Marc Jacobs to close London flagship

The term 'restructuring' has become synonymous with struggling, underperforming brands, and the latest luxury company facing the predicament of store closures is Marc Jacobs.

It's never cool for a brand to close a flagship store, and the news that Marc Jacobs is shuttering its Mount Street boutique in London is no doubt part of a desperate operation to level the losses, increase sales and implement a new strategy, pronto. The gloomy news only highlights the fact Jacobs was the first 'big' international brand to arrive in this dusty part of Mayfair, bringing kudos and pioneering the way for other brands who preferred to anchor their stores in close proximity but just far enough from the stuffiness of Bond Street. When Jacobs opened his store in 2007, it was a bold and exciting time for fashion in London.

Fast forward a decade and the relevancy of the Marc Jacobs brand is questionable amongst shifting consumer tastes, omni-channel retailing and most of all questionable at product level.

Marc Jacobs has seen losses since exiting Louis Vuitton

After a string of closures of the Marc by Marc Jacobs stores after the label was integrated with the mainline under a single brand umbrella, streamlining its portfolio has been part of a larger operation for the company, "which has endured losses since its founder and designer exited his post as women's artistic director of Louis Vuitton at the end of 2013," wrote the Business of Fashion.

The business of Marc Jacobs has been under scrutiny for quite some time. There was a new chief executive hire last summer, Eric Marechalle, who is facing the daunting task of returning the brand back to fashion relevancy. But it has been many seasons and many moons since Jacobs elicited the kind of excitement felt by a newer generation of designers, like Demna Gvasaglia, Phoebe Philo and Hedi Slimane.

While many media outlets felt it relevant to focus on Marc Jacobs cutting back on its catwalk presentations with less of a fashion circus and over-the-top-production, it is this author's view that a more spartan show style won't dent a brand if what is on the runway is appealing and ultimately performing at retail level.

Last year the rumour circulated that Jacobs may step back from his day-to-day design role or leave the company entirely. While neither scenario has happened, LVMH have remained tight-lipped over the reported closures or future of the business, of which it is 80 percent owner. There were also rumours the company would be listed, but the planned store closures would suggest otherwise. Whatever steps the company is taking the rebuild the business and brand, let's hope there will be more bold and exciting times ahead.

Photo credit: Marc Jacobs SS18, source Marc Jacobs website