Marc Jacobs’s departure from Louis Vuitton to focus on an initial public offering of his own brand is set to provide a double boost for LVMH Moet Hennessy Louis Vuitton SA, the owner of both luxury fashion labels.
Marc Jacobs will leave Louis Vuitton after 16 years as artistic director of the world’s biggest luxury label to focus on an initial public offering of his own brand, according to a person familiar with the matter.
Louis Vuitton, which last month raised prices by an average 12 percent in Japan, has imposed similar increases on non-leather handbags in most of its main markets since the start of the year, according to HSBC.
For decades, fashionistas have known that a Birkin bag is a safe style bet -- if you can get your hands on one. That demand makes its producer, Hermes International SCA, the surest bet in the luxury industry when it comes to sales growth.
Hermes International SCA , the French maker of Birkin handbags and silk scarves, reported first- quarter sales that beat analysts’ estimates as wealthy consumers purchased more luxury watches and fragrances.