Last week, WWD revealed that Marc by Marc Jacobs would be discontinued and folded into the main Marc Jacobs collection. On Monday, WWD added more details to the narrative — that of the company adjusting its business as it heads toward a public offering.
But what will happen to Marc by Marc Jacobs Creative Director Katie Hillier and Design Director Luella Bartley? According to WWD's sources, Hillier, who is "highly regarded within the company," will likely stay on through the transition, though it's not yet apparent if Bartley will do so as well. The design team for the newly expanded Marc Jacobs brand will be growing as a whole, so we'll be on the lookout for some staffing changes.
One thing we do know for sure? The merging of the two collections is going to result in products not just at the two collections' price points, but also in between. Sebastian Suhl, who was named CEO of Marc Jacobs in July, says that there's a lot of white space to be filled — think items in the $500-plus contemporary range.
It also seems that LVMH has increased its stake in Marc Jacobs over the last few years. Sources for WWD say that the conglomerate now owns 80 percent of the company, while Jacobs and his business partner Robert Duffy each own 10 percent.
A rep for Marc Jacobs declined to comment on LVMH's stake in the company for this story. A rep for LVMH did not immediately respond to request for comment.