Industry Insight: Jacobs is Out and Ghesquiere is In

Marc Jacobs' contract with Louis Vuitton is coming to an end, and with reports that it will not be renewed after 16 years, the question is: who could possibly fill his spot as creative director? While we don't usually spend too much time dishing on industry rumors, this is too major to ignore. In case you didn't know, Jacobs created the Louis Vuitton's first ready-to-wear collection. Within ten years of his appointment at Louis Vuitton, Jacobs had quadrupled the company's profits, turning what was solely a luggage firm into a global fashion powerhouse.

Collaborations with the likes of Steven Sprouse, Julie Verhoeven, Takashi Murakami and Richard Prince created highly coveted cult pieces. So, not just anyone will be able to step into his role. One name, however, has been floated as a front runner: Nicolas Ghesquière (below, right), of course. He recently left his post as creative director at Balenciaga, where he had been since 1997. Sounds quite right, doesn't it?