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Marc Jacobs Appoints New CEO (Updated)

LVMH has confirmed that Givenchy CEO Sebastian Suhl will be taking the reins at Marc Jacobs.

Marc Jacobs International has IPO ambitions -- and now, the LVMH-owned design brand has a new CEO to take them there.

LVMH has confirmed that 46-year-old Sebastian Suhl, who has served as CEO of Givenchy for the past two years, is the new CEO of Marc Jacobs. He is replacing Bertrand Stalla Bourdillon, who has worked as CEO and chairman of Marc Jacobs International since 2006. Marc Jacobs's business partner of more than 30 years, Marc Jacobs International President Robert Duffy, is remaining at the company, a spokesperson for LVMH confirmed. 

Philippe Fortunato, formerly the president and CEO of Louis Vuitton North Asia, is expected to succeed Suhl at Givenchy. There's no word yet on Bourdillon's next move.

The news was first reported by WWD.

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At Givenchy, Suhl dramatically expanded the label's retail footprint (as WWD notes, it is set to open 25 boutiques this year), part of an effort to make its direct retail revenues account for half of its business. Suhl also has experience taking a company public, having worked at the Prada Group prior to his Givenchy days. Both experiences, we imagine, will be used to full advantage at Jacobs.