New York, Oct 1 (IANS): US fashion designer Marc Jacobs is reportedly leaving French fashion house Louis Vuitton after 16 years in order to focus on his own label - Marc Jacobs.
It is speculated that Jacobs won't renew his 10-year contract with the fashion house because he wants to concentrate on expanding his own line of products, reports contactmusic.com.
It is believed that the move could result in French luxury goods group LVMH putting their majority stake in Marc Jacobs International up for grabs in an initial public offering (IPO).
Despite the profitable prospect of an IPO, a source told WWD magazine that Jacobs and his business partner Robert Duffy "are not yet on board".
Meanwhile, LVMH are reportedly in talks with former Balenciaga creative director Nicolas Ghesquiere to become a potential successor to the 50-year-old designer.