MARC JACOBS is leaving Louis Vuitton to focus on his own label as it heads towards an IPO.The news was confirmed by LVMH chairman and CEO Bernard Arnault this morning, following the show, and brings an end to the designer's 16-year-long tenure at the brand.
"Marc has provided fashion with so much during his years at Vuitton," said Vogue editor Alexandra Shulman this morning."It's important to know how to exit, as well as arrive, and it's going to be exciting to see how this impacts on the creativity in his own line."
WATCH THE FINAL SHOW HERE
Jacobs presented his final show for the brand this morning, a celebration of his greatest hits - created entirely in black, as was his first show for the label.Part of the set included pieces from past shows including a carousel, escalators, a lift, a fountain and a large clock, which wound back after the show ended.Jacobs dedicated the show to all the women who have inspired him and "the showgirl in every one of them", including Jane Birkin, Katie Grande, Coco Chanel and Kate Moss.Bernard Arnault led a standing ovation for the designer.The news confirms initial speculation that emerged last week.
"Two weeks ago when I arrived back in Paris, Bernard said, 'The future of Marc Jacobs will require so much of your and Robert's attention that at some point you will have to decide when you will make it your last show.'But he left it to us to decide," said Jacobs."And we had just - probably brought on by the [WWD] story and all the rumours - we just decided like [today]."
Read more:Louis Vuitton Spring/Summer 2014 Ready-To-Wear
The initial public offering is set to take place within the next three years.LVMH - which owns Marc Jacobs, as well as Louis Vuitton - is said to be keen for Jacobs to focus to his eponymous label as an IPO beckons.
"This [Marc Jacobs] brand has an enormous potential all over the world," Arnault told WWD."To materialise this potential, we decided together within the next two or three years, to do an IPO.This requires a lot of investment on our side, a lot of management on our side, and a lot of personal investment for Marc and Robert to really give the input, both creatively and communication-wise on the brand, all over the world.So it will take a lot of the energy of both of them."
A successor has not yet been named, although former Balenciaga creative director Nicolas Ghesquière is reportedly the frontrunner.Arnault maintains that "no decision will be made immediately".
Jacobs is responsible for having introduced Vuitton's ready-to-wear line, turning the brand into a global powerhouse.Prior to his tenure, the label was known only for its leather goods and luggage line.He also launched the first of the fashion house's art collaborations, working with artists such as Stephen Sprouse (who created the brand's popular graffiti bags), Takashi Murakami and Yayoi Kusama.
Watch his final Vuitton show below:
[Html##<div class="maintainAspectRatio" data-aspect-size="16x9" style="position:relative"> <object id="fcplayer" style="position:absolute;width:100%;height:100%" width="640" height="360" classid="clsid:D27CDB6E-AE6D-11cf-96B8-444553540000"> <param name="movie" value="http://player.louisvuitton.com/FCPlayer.swf?id=1030498"/> <param name="allowfullscreen" value="true" /> <param name="allowscriptaccess" value="always" /> <param name="wmode" value="transparent" /> <!--[if !IE]>--> <object type="application/x-shockwave-flash" style="position:absolute;width:100%;height:100%" width="640" height="360" data="http://player.louisvuitton.com/FCPlayer.swf?id=1030498"> <param name="allowfullscreen" value="true" /> <param name="allowscriptaccess" value="always" /> <param name="wmode" value="transparent" /> <!--<![endif]--> <div><p><a href="http://www.adobe.com/go/getflashplayer">;; <img src="http://www.adobe.com/images/shared/download_buttons/get_flash_player.gif" alt="Get Adobe Flash player" /> </a></p></div> <!--[if !IE]>--> </object> <!--<![endif]--> </object> </div>##Id¬1lb22e]
Read more:Style File:Marc Jacobs