Louis Vuitton denies Nicolas Ghesquiere exit
Louis Vuitton has denied a report that the company is considering a change of its top designer.
On Wednesday (20Jul16), Reuters published a report claiming Louis Vuitton’s creative director of women’s collection Nicolas Ghesquiere could be unseated as soon as after Paris Fashion Week, which is set to kick off at the end of September (16). The news agency suggested that Louis Vuitton Moet Hennessy (LMVH) boss Bernard Arnault is mulling the change, and identified Jonathan Anderson, Loewe’s creative director, as the likely heir.
In reaction to the report, a spokesperson for the French luxury giant has told The Business of Fashion that the company “categorically denied” the claim. They further clarified that Ghesquiere has a five-year contract, which is not due to expire until November 2018.
Ghesquiere replaced Marc Jacobs at Louis Vuitton in November 2013, after impressing with his work at Balenciaga. The 45-year-old is known for his attention to detail and has overseen Louis Vuitton’s quest to build a more upscale and exclusive reputation following a rapid global expansion, with his new range of handbags with the popular “V” logo working well for the label’s core leather goods business. In June (16), Ghesquiere told French TV channel Canal Plus that he wished to create his own label and would be in a position to do so in the future, but did not provide any further details. Should he develop his own range, he would be following in the footsteps of multiple respected designers, including Alexander Wang and Christophe Lemaire, who have left big brands to pursue their own labels.
Louis Vuitton is considered one of the world’s biggest luxury brands, generating nearly 8 billion euros (£6.6 billion) in annual revenue. The company operates in 50 countries with more than 460 stores worldwide.