Luxury brand Louis Vuitton will be undergoing a few internal changes. Marc Jacobs, who has served as creative director at the fashion house for 16 years, will be leaving his post to prepare his IPO (initial public offering). According to WWD, Jacobs, LVMH Moët Hennessy Louis Vuitton chairman and CEO Bernard Arnault and business partner Robert Duffy, confirmed the developments after months of speculation. The offering should happen within the next three years. A successor has not been named nor decided upon as of yet.
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