Louis Vuitton Confirms Ghesquiere to Succeed Jacobs

After much speculation, and even denial by LVMH, Nicolas Ghesquière has been confirmed to succeed Marc Jacobs at Louis Vuitton as their artistic director of women's collections.

Confirming a widely expected hire, Vuitton said the designer - who catapulted Balenciaga to the forefront of the Paris fashion agenda - would show his first collection here next March.

The news comes almost a year to the day that Ghesquière exited Balenciaga, where at 15 years he brought the brand to the forefront of Paris' fashion scene. Vuitton said Ghesquière would bring "a modern, creative vision to the house's women's collections, building on the values of refinement, savoir faire and extreme quality."

Ghesquière said, "Louis Vuitton has always incarnated for me the symbol of ultimate luxury, innovation and exploration. I am very honored of the mission that I am entrusted with, and proud to join the history of this great maison. We share common values and a vision."

Ghesquière, 42, succeeds Marc Jacobs, who confirmed his exit from Vuitton last month to focus on developing his signature brand, as well as ready his namesake company for an initial public offering.