It's official: Marc Jacobs is leaving . After weeks of speculation an announcement has been made this morning, just as his final collection for the fashion house took to the catwalk.

Jacobs has been creative director of Louis Vuitton since 1997 and designed its first ready to wear collection. From Stephen Spouse-graffitied bags to Richard Prince-inspired nurses uniforms and catwalk shows that encompassed escalators and lifts and steam trains, not to mention countless Kate Moss appearances, over the past 16 years at Louis Vuitton, Jacobs has been responsible for some of the most talked about moments and pieces in fashion.

He won't be severing ties with LVMH though - according to WWD he and partner Robert Duffy will be focusing on a massive global expansion of the Marc Jacobs brand.

A successor has not yet been named, although there are whispers that Nicolas Ghesquiere is the front runner.

Marc Jacobs at 50