From Kering to LVMH
The 50-year-old American Marc Jacobs left Louis Vuitton early October after
16 years of service, in order to prepare his own label’s IPO. His artistic guidance turned Louis Vuitton into LVMH’s most profitable brand, with a turnover of
7.5 billion euro. That is more than double what its main competitor, Kering
(former PPR), manages with its own Italian luxury brand, Gucci (3.6 billion euro
in 2012).
Noteworthy detail is that Nicolas
Ghesquière worked for Balenciaga from 1997 until 2012. Balenciaga is a
luxury brand belonging to the Kering portfolio. “Louis Vuitton has always
incarnated for me the symbol of ultimate luxury, innovation and exploration”,
the new creative director said. “I am very honoured of the mission that I am
entrusted with, and proud to join the history of this great maison.”
Ghesquière has a Belgian father, but was raised in France. He will be in charge of the entire women’s clothing
line and will presenting his first collection at the Cour Carrée in the
Louvre, a symbolic location for the French luxury brand. Kim Jones will
continue to head Louis Vuitton’s men’s line.
(translated by Gary Peeters)
