Jordi Constans, seen here with Yves Carcelle and Marc Jacobs will be replacing Mr. Carcelle to become the new CEO of Louis Vuitton as well as a member of LVMH's (Louis Vuitton Moët Hennessy) executive committee. Having joined the luxury brand in 2011, Mr. Constans had spent the past year learning the inner workings of the brand.

Mr. Carcelle however will remain at his position in the LVMH executive committee and take on a new role as Vice Chairman of the upcoming Louis Vuitton Foundation art museum which is slated to open in Paris next year.