PARIS — Marc Jacobs will leave Louis Vuitton after 16 years as artistic director of the world’s biggest luxury label to focus on an initial public offering of his own brand, according to a person familiar with the matter.
Vuitton-owner LVMH Moet Hennessy Louis Vuitton wants to accelerate development of the Marc Jacobs label, which has annual sales of about $1 billion, and may pursue an IPO in about three years, said the person. A spokesman for LVMH declined to comment.
Jacobs’ move will provide a double boost for LVMH, allowing him to focus solely on the growth of his label while a new creative director works to inspire a revival at Vuitton, according to Luca Solca, an analyst at Exane BNP Paribas. “While Marc has done a lot for LV in 16 years at the helm, it is only natural that new creative talent will provide novelty,” Solca wrote in an e-mail.
At Vuitton, which held its spring-summer collection Wednesday, Jacobs helped transform the trunkmaker into the world’s biggest luxury brand with sales of more than $9.5 billion.
