Designer Marc Jacobs at his last show

American designer Marc Jacobs is leaving the multibillion dollar French company Louis Vuitton to focus on his own brand, ending a 16 year tenure.

Louis Vuitton Chief Executive Michael Burke states, “We’re doing what’s good for Marc and his company… Marc’s wish is to take it to the next level.”

The company is competing with formal LVMH designer Michael Kors, whose company sold 47.2 million shares, raising $944 million, since it listed on the stock market in December 2011. Both Marc Jacobs and Michael Kors fall under similar price ranges and target similar diverse age groups ranging from teens, young adults, and women. With such similarities, it will be a battle to see who comes out on top. In the feat to “take it to the next level”, could Marc Jacobs consider repositioning the competitor so consumers see them in a different light?

Vogue editor Alexandra Shulman says, “It’s important to know how to exit, as well as arrive, and it’s going to be exciting to see how this impacts on the creativity in his own line.”

Article and picture from here