Quote of the Day: Marc Jacobs Staying at Louis Vuitton, Not Going to Dior

"It's a great honour to be considered, and Mr. Arnault [head of LVMH] is a super intelligent man and a very smart man and it was certainly a very great honour for him to know that I was capable--and not only capable but that I am someone that he would have wanted for the job. But I am very happy to be here. There is so much more left to do and building Louis Vuitton into a fashion company is something nobody else can say they really started...it's a little bit more complicated than that...but we agreed that it was probably best for everyone."

-Marc Jacobs to The Telegraph about the discussions for him to take over Dior, and the ultimate decision for him to stay at Louis Vuitton.