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American designer Marc Jacobs has announced he will be leaving Louis Vuitton to focus on the initial public offering (IPO) of his namesake brand. The news comes after months of speculation and recent rumors of Nicolas Ghesquiere succeeding Jacobs as creative director of the luxury brand. Jacobs’s contract with Louis Vuitton, along with his business partner Robert Duffy’s, are set to expire at the end of the year and the two will not be renewing them.

During his 16-year run at Louis Vuitton, Jacobs helped transform the fledgling luggage house into a coveted fashion brand with a global presence. Collaborations done under his watch include works with Stephen Sprouse, Takashi Murakami and Richard Prince. Alongside these fashion-meets-art collaborations, Jacobs earned the reputation of staging some of Paris’s most exciting and extravagant shows.

The IPO should occur within three years. We’ll be sure to keep you posted on both fronts as further news comes in.

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