Marc Jacobs heads to the
stock exchange
French business magazine
Challenges already talked about the resignation last week and believes that
Arnault, CEO at LVMH, had already planned this a while ago. Replacing the
CEO and the creative director at the time was impossible, which
apparently led to Jacobs’s contract being
extended for a single year. The current state of affair allows Arnault to increase
Louis Vuitton’s position as an exclusive brand, as was his goal.
The American designer has
been thinking about bringing his own brand
to the stock exchange for quite a while, a process he now intends to speed up. His
initial public offering should be pushed through within three years.
Louis Vuitton’s parent group LVMH will be backing Marc Jacob’s plans, as it owns one
third of the label’s stock, with Jacobs and Duffy owning another third each.
Frenchman with Belgian
roots tipped as successor
If rumours are to
be believed, Nicolas Ghesquière might be appointed as his successor: the Frenchman with Belgian roots has worked for Balenciaga for
years and is not only currently “available”, but also scores well with
fashion connoisseurs and with Delphine Arnault, Louis Vuitton’s number 2 and
daughter of the CEO.
LVMH has chosen not to
react to the rumours, stating it will take
its time to deal with the succession.
