The US designer and the chairman of Louis Vuitton parent company LVMH, Bernard Arnault, confirmed the end of his 16 year tenure at the French luxury brand to industry journal Women’s Wear Daily (WWD).
The news on Wednesday coincided with Jacobs’ Louis Vuitton show on the last day of Paris fashion week.
It follows contract negotiations between Jacobs and Louis Vuitton and LVMH.
It is understood that any future initial public offering (IPO) would require Jacobs to be fully focused on his own brand to ensure the highest possible valuation.
Louis Vuitton, meanwhile, is understood to have held talks with former Balenciaga designer Nicolas Ghesquiere about succeeding Jacobs as artistic director, sources told WWD earlier.