“His contract may not be renewed,” the source told Reuters on condition of anonymity, without going into further detail. The French magazine Challenges this week said his departure had already been approved internally.”
Read more here at New York Daily News.
Marc Jacobs is the first designer to propel the trend of gaudy logos on bags which makes Louis Vuitton the desirable luxury and most recognisable brand that it is today.
Since joining the group in 1997 Jacobs has steered Vuitton’s growth into a global luxury brand which generates nearly 7 billion euros ($9.46 billion) of revenues a year and more than half of parent LVMH’s operating profits.
However, Louis Vuitton has become too desirable that its monochromatic icon has become one of the most copied in the black market for fake goods. This coincides with the earlier report that Louis Vuitton is changing their marketing direction. It has hired Darren Spaziani to be responsible for the accessories line to propel the brand into a new stratosphere called “Hyper-Luxury”.
Rumour has it that Nicolas Ghesquière is being considered to replace Marc. We have heard how vocal Nicolas about Balenciaga forcing him to push business in expense of creativity. This new direction of Louis Vuitton might fit Nicolas to a T.
All of these, as if Louis Vuitton is that cheap to begin with.