When Tom Ford left Gucci last April people mourned the fact. However, another stellar designer, Marc Jacobs, used Ford’s departure to his advantage. Jacobs was actually offered Ford’s job at Gucci when the latter left. With this offer in hand, Jacobs managed to improve his deal with employer LVMH. The result was more money and stock options, a source told PAGESIX.COM.
Ford’s departure also incited Bernard Arnault, chairman of LVMH, to lock Jacobs into a long-term contract, which is reputed to span the next ten years. The negotiations were finally signed last year after long negotiations. Well done, Marc Jacobs!
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