With an anonymous source telling news service Reuters that “his contract may not be renewed”, rumours gathered pace that his Spring/Summer 2014 show this week, which is set to include a selection of Jacobs’ greatest hits for the label maybe his last for the brand.
It is thought that the speculations of Jacobs exit from Louis Vuitton, a brand which has seen enormous growth during his sixteen-year tenure, is to allow the designer to concentrate on his New York-based eponymous label which could be listed on the stock market.
The Marc Jacobs’ line, which keeps on getting bigger and expanding, with the recent launch of his own cosmetics line, is thought to be worth close to 1 billion dollars. However, a move to take his brand public would call for LVMH’s approval as the luxury conglomerate owns a majority stake, as well as one third of the Jacobs trademark.
Rumours gather pace over Jacobs future at Vuitton
A public offering would benefit both the designer and the luxury conglomerate, with an IPO expected to make billions of dollars, but according to WWD, Jacobs and his business partner, Robert Duffy “are not yet on board”. But for the listing to be lucrative, Jacobs would have to appear fully committed to the brand, which is why he would need to step down from his role at Louis Vuitton.
Before it has even been confirmed that Jacobs is leaving, speculation has already started on who will succeed the designer, with reports suggesting that the label’s parent company, LVMH is already in negotiations with former Balenciaga designer Nicolas Ghesquière to succeed him. But some are questioning whether Ghesquière is ready to jump back into a major fashion house, especially as he is the midst of a lawsuit with his former label.
Louis Vuitton’s Spring/Summer 2014 show takes place this Wednesday, on the final day of Paris Fashion Week.