Bernard Arnault: Marc Jacobs is masterpiece

OHMYGOSSIP — Bernard Arnault has comapared teaming up with Marc Jacobs to a masterpiece. The LVMH chairman and CEO – who has worked with the US-born designer since they became partners at his eponymous company in 1998 – likened choosing successful designers to helm his companies to selecting “artwork” for his home and considers teaming up with Marc, 51, his masterpiece.

He told WWD: “When you choose a designer, it’s an investment for the long term. It’s the same with artwork. When I buy a piece of art, I think to myself, I will live with this work of art for decades.

“Take the example of Marc Jacobs. When we bought the company in partnership with Marc, it was doing maybe $20 million in 1998. Today, we do more than $1 billion, so it’s long term.”

Bernard is positive the company will continue to grow and hopes that they will be able to make an IPO – the first public selling of stock – in the near future.

He explained: “I saw the potential with Marc, a great, great designer, and now we are working with him towards – in the next two years hopefully, if the market allows – an IPO.”

Bernard also insists longevity is the key to successful partnerships in the fast-paced fashion industry.

He said: “Today, young designers live in a world that is changing rapidly, where communication is instantaneous. What interests me is taking the long-term perspective.”