Marc Jacobs, Robert Duffy and LVMH chaiman Bernard Arnault have confirmed that Jacobs is exiting his position as the creative director of Louis Vuitton, the Luxury brand owned by LVMH.
The news marks the end of Jacobs' 16-year tenure at the storied French house, wich the American designer helped to transform from a staid luggage label into one of the most valuable fashion brands in the world, and the jewel in LVMH' s crown.