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Marc Jacobs to leave Louis Vuitton to prepare IPO of own brand

Marc Jacobs is leaving Louis Vuitton to focus on his own label and prepare it for an initial public offering, Louis Vuitton Chief Executive Michael Burke said on Wednesday.

The decision ends Jacobs’s 16-year tenure at Vuitton, where he was the highest-profile US designer at the helm of a major European fashion house.

Jacobs, along with LVMH Moët Hennessy Louis Vuitton SA, will work toward a public listing of his brand.

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(Source: The Wall Street Journal Online)