Bernard Arnault, Marc Jacobs and Robert Duffy backstage at the Louis Vuitton spring 2014 show.
Marc Jacobs is leaving Louis Vuitton as plans take shape for an eventual public offering for the Marc Jacobs brand.
LVMH chairman and ceo Bernard Arnault, together with Jacobs and his long-time business partner Robert Duffy, confirmed the developments to WWD following months of speculation.
The applause that rang out this morning from the vast tent in the Cour Carrée of the Louvre signaled the end of Jacobs’ tenure as creative director for the storied French house and the official beginning of Jacobs’ IPO preparation. The offering should occur within the next three years. WWD first reported on June 10 LVMH’s interest in taking Marc Jacobs public.
While rumors that Nicolas Ghesquière will replace Jacobs have been circulating, LVMH has yet to name a successor.
Before Jacobs was appointed as the brand’s first creative director in 1997, the house was all about its iconic, monogrammed handbags and travel trunks.
There was no Louis Vuitton ready-to-wear—no epic Paris fashion week sets, no Kate Moss cameos, no clothes. Jacobs’ debut Fall 1998 collection, which he showed sans music in Paris, was sheer minimalism, and a far cry from the opulent affairs he’s turned out in recent years. However, now, almost two decades later, Jacobs has transformed Vuitton from an old-world purveyor of superluxury travel goods to an international house at the forefront of fashion.
Who could forget his artist collaborations, which he began with Stephen Sprouse’s graffitied handbags in Spring 2001? Or that time in 2010 when he dared to celebrate supermodels’ cleavage? And what would we talk about post-PFW if it weren’t for his outrageous runways (Fall 2012′s LV locomotive, anyone?)?
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