Designer Marc Jacobs may be saying adieu to French luxury brand Louis Vuitton when his contract expires this month.
An industry source who declined to be named, tipped Jacob’s impending departure to an international news agency.
Jacobs teamed up with Louis Vuitton in 1997 and helped engineer the spectacular international growth of the luxury brand firm in the ensuing years.
Annual revenue for Louis Vuitton runs on average just short of 7 billion euros, about US $9.46 billion.
Jacob’s anticipated farewell may have been prompted by this year’s sales decline of some 5 to 6 percent. In decades past Louis Vuitton posted annual sales growth of 10 percent or more.
Among Jacob’s achievements at Louis Vuitton, was the development of the profitable men’s and women’s ready-to-wear lines.