Following unconfirmed rumours this week of Nicolas Ghesquière taking over as Creative Director at Louis Vuitton, further speculation of Marc Jacobs’ departure from the role has been reported by The New York Times today. According to the newspaper, a source who would not be named has stated that Jacobs confirmed his departure backstage at the Louis Vuitton Spring 2014 show on Wednesday. The designer stated his reason for leaving as a desire to concentrate on his eponymous line, which is apparently now nearing €1 billion in value. However, last week Reuters reported that Jacobs’ contract with Louis Vuitton had not been resolved following 9 months of negotiations, which suggests something wasn’t working between the two parties. Louis Vuitton’s growth has slowed to around 5% this year, following several years of annual gains of upwards of 10%. Stay tuned for more news here. (via)