11/04/2013 10:51 EST | Updated 01/23/2014 10:52 EST

Louis Vuitton names designer Nicolas Ghesquiere to replace Marc Jacobs at fashion house's helm

PARIS - Louis Vuitton has named Nicolas Ghesquiere as its new artistic director, replacing the outgoing Marc Jacobs with the designer best known for his ties to the Balenciaga fashion house.

Louis Vuitton announced the appointment on its official Twitter account with a black-and-white photo of Ghesquiere.

Jacobs parted ways with Louis Vuitton in September, although his namesake brand still falls under LVMH umbrella. His replacement has been the subject of intense interest, both among investors for LVMH Moet Hennessy Louis Vuitton and in the fashion world.

Ghesquiere left Balenciaga in 2012 after a 15-year run in which he successfully refocused attention on the brand and drew in celebrity fans such as Beyonce and Rihanna. He is being sued by Balenciaga, which accuses him of being in breach of a confidentiality clause for speaking negatively of the fashion house in an interview.

Jacobs favoured a more vintage-inspired look than Ghesquiere, who has a reputation for adding a rebellious, rock 'n' roll edge to his designs. He also won't be in charge of accessories like bags as Jacobs was. In a structural change, Darren Spaziani was appointed to a new role overseeing Louis Vuitton's high-end leather goods last week.