Marc Jacobs has been at the helm of Louis Vuitton since 1997, and even introduced the fashion house's first clothing collection. For years, his name has been synonymous with the brand and the iconic monogram. What is LV with Jacobs? We wouldn't even know what that would be. 

But we may find out soon, as the designer's contract with LVMH ends in 2014 and there are rumors swirling around that he and his partner Robert Duffy may choose not to renew it, this according to Fashionista. If Jacobs does end his 16-year run, Nicolas Ghesquière, who exited Balenciaga last year, is said to take over. 

Jacobs and Duffy have yet to confirm the rumors. But a source told Fashionista that Ghesquière and LVMH are “in serious negotiations” and the designer is "definitely" taking over as creative director at the French luxury brand. 

It's unclear where Jacobs will go if he does leave LV. Some believe he'll make a move to Coach, which is currently searching for a successor for Reed Krakoff. Others think he'll focus on his namesake label—maybe release a few more all gold everything iPhone cases. Stay tuned. 

[via Fashionista]