Marc Jacobs Leaves Louis Vuitton After 16 Years

Designer Marc Jacobs is stepping down as the creative director for French luxury company Louis Vuitton, owned by billionaire Bernard Arnault, according to Louis Vuitton Chief Executive Michael Burke. "We're doing what's good for Marc and the future of his company,"  "Marc's wish is to take it to the next level."
Michael Burke also added that LVMH luxury goods will continue to invest in Marc Jacobs' fashion house and focus on an international store network, an endeavor that will "require substantial time and investment." Marc Jacobs, 50, is a major player in the fashion industry, as he is not only affiliated with Louis Vuitton, but he also has an eponymous fashion line.