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New York -- Marc Jacobs and Bernard Arnault are on the verge of resolving their long-running friction, which at times had thrown the designer's future as the creative force behind Louis Vuitton into question.
Robert Duffy, president of Marc Jacobs International, said Wednesday that he and Jacobs are likely to sign new employment contracts in a few weeks, although he left open the possibility that things could change. Speaking from Jacobs' offices in Paris, where negotiations are ongoing, Duffy said his optimism about the future of their relationship with parent company LVMH Moet Hennessy Louis Vuitton was based upon a recent positive show of support by Bernard Arnault, its chairman.
"It's been a struggle, but we're hoping for the best," Duffy said. "Nothing has been finished yet, but the most important thing is that we have Arnault's commitment to making this work, with the proper investment for infrastructure."
Jacobs and LVMH officials have been in prolonged discussions since last summer over the designer's long-term role at Louis Vuitton, where he has made an enormous impact on sales -- now surpassing the $3 billion mark -- since he took over its artistic direction in 1997. Although Jacobs signed a seven-year contract in 2001 to stay on at Vuitton, rumblings began to surface more than...