By Sandra Birungi
American designer, Marc Jacobs is leaving Louis Vuitton after working there for 16 years.
The announcement was made by Louis Vuitton Chief Executive, Michael Burke on Wednesday. Jacobs is leaving the fashion label to focus on his own label and prepare it for an initial public offering. Mr. Jacobs, along with LVMH Moët Hennessy Louis Vuitton SA, will work toward a public listing of his brand.
“We’re doing what’s good for Marc and the future of his company,” Mr. Burke said in an interview. “Marc’s wish is to take it to the next level.”
Mr. Arnault is now considering hiring Nicolas Ghesquière, the former Balenciaga designer, to give Vuitton a new burst of creativity, according to people familiar with the matter.