Marc Jacobs leaves Louis Vuitton.~

It's the end of an era at Louis Vuitton. After 16 years at the creative helm of the French luxury brand, Marc Jacobs is leaving.

Bernard Arnault, the CEO of LVMH, announced yesterday that Jacobs would withdraw from his post as creative director of the brand to work on making his eponymous label public, reports WWD. The designer is preparing for the eventual IPO of the Marc Jacobs label.

The report confirms months of speculation on Jacobs's departure. According to the rumors already circulating in the fashion industry, Nicolas Ghesquière, the former creative director of Balenciaga, is the potential front-runner to replace Jacobs.~