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Marc Jacobs steps down as Louis Vuitton's creative director | Marc Jacobs steps down as Louis Vuitton's creative director |
(about 1 hour later) | |
Designer Marc Jacobs is leaving the luxury goods firm Louis Vuitton, to focus on his own brand. | Designer Marc Jacobs is leaving the luxury goods firm Louis Vuitton, to focus on his own brand. |
The announcement came in an interview given to Women's Wear Daily, by LVMH boss Bernard Arnault. | The announcement came in an interview given to Women's Wear Daily, by LVMH boss Bernard Arnault. |
The Marc Jacobs label is jointly owned by Mr Jacobs, his business partner and LVMH. The three are preparing to take the brand public with a share offering expected within three years. | The Marc Jacobs label is jointly owned by Mr Jacobs, his business partner and LVMH. The three are preparing to take the brand public with a share offering expected within three years. |
LVMH have yet to name a replacement for the high profile Louis Vuitton job. | LVMH have yet to name a replacement for the high profile Louis Vuitton job. |
Global brand | |
The luxury goods empire also owns Givenchy, Pucci, Moët & Chandon, Christian Dior perfumes and cosmetics, and Bulgari watches and jewellery. | |
The American designer spent 16 years at the company, where he helped it grow into a global brand which generates more than 7 billion euros of revenue a year, half of LVMH's operating profits. | |
Mr Jacobs presented his last collection for Louis Vuitton earlier on Wednesday. | |
It was an all-black show with references to his past work such as the train station he reconstituted and the white carousel carrying models, including Kate Moss, two years ago. | |
Nicolas Ghesquiere, who left Balenciaga last year having revamped the Kering fashion brand, is seen as a top contender to replace Mr Jacobs. | |
David Da Maia, analyst at brokerage Aurel BGC in Paris, said: "It would be a positive sign if Ghesquiere joined Louis Vuitton as he is one of the most coveted designers today and he would give a creative jolt to the brand." |