In a whirlwind of switch-a-roos and swaps, parent company LVMH has confirmed that 46-year-old Sebastian Suhl, CEO of Givenchy, another LVMH label, will take over as the new CEO of Marc Jacobs replacing Bertrand Stalla-Bourdillon. Bourdillon has held the CEO and chairman position at Marc Jacobs International for eight years – since 2006 — and will be assigned to another brand under LVMH. As for Givenchy’s new CEO, upon Suhl’s leave after two years, the former CEO and president of Louis Vuitton North Asia, Philippe Fortunato will be taking over. Got it? Good!
Suhl was likely chosen to take over as the CEO for Marc Jacobs for his dramatic expansion of Givenchy’s retail revenue. According to Women’s Wear Daily, the label has plans to open 25 new boutiques this year. According to Business of Fashion, chairman and CEO of LVMH, Pierre-Yves Roussel said that Suhl’s missions include “initiating a number of new projects at the label, including expanding the brand in the US and renewing its accessories line” in addition to “helping the label prepare for a future IPO.”
Suhl has had prior experience with staging a label’s IPO and helping in efforts to go public, with his work with Prada Group in the Hong Kong Stock Exchange in 2011. It only makes sense that the label took on this successful businessman on as their CEO.