Marc Jacobs steps down as Louis Vuitton's creative director

The announcement came in an interview given to Women's Wear Daily , by LVMH boss Bernard Arnault. The Marc Jacobs label is jointly owned by Mr Jacobs, his business partner and LVMH. The three are preparing to take the brand public with a share offering expected within three years.

LVMH have yet to name a replacement for the high profile Louis Vuitton job.

NOTE: Louis Vuitton Malletier, commonly referred to as Louis Vuitton, is a French fashion house founded in 1854 by Louis Vuitton. The label's LV monogram appears on most of its products, ranging from luxury trunks and leather goods to ready-to-wear, shoes, watches, jewelry, accessories, sunglasses, and books. Louis Vuitton is one of the world's leading international fashion houses; it sells its products through standalone boutiques, lease departments in high-end department stores and through the e-commerce section of its website. For six consecutive years (2006–2012) Louis Vuitton has been named the world's most valuable luxury brand. Its 2012 valuation was 25.9 billion USD.