Marc Jacobs goes global

Last week saw the opening of the first Marc Jacobs flagship store in London. According to all accounts, the opening was a raging success, as was the Marc by Marc Jacobs show which closed London Fashion Week. For the designer and his business partner and Marc Jacobs co-founder Robert Duffy, the signals are all extremely positive. Duffy noted that nowhere had he seen more of the brand's handbags than in London. Currently, the brand's biggest markets are Japan, the US, China and the UK. The London store opening marks the beginning of a major global expansion this year. As much as 60 stores will open in cities like Beirut, Dubai and Moscow. Furthermore, the company is in the planning stages of a much more affordable third line, for which it has the support from none other than parent company LVMH's chairman Bernard Arnault. "I've got 50,000 analysts and advisers telling me a third line is a terrible idea," Duffy told the FT. "I mean, LVMH has never even done a second line for their brands! But I don't have to listen to them; I just have to get them to give me the money. And Mr. Arnault said 'OK, give it a shot'."