Marc Jacobs thinks it was best for everyone that he didn't make the move to Christian Dior.
For several weeks the American designer was viewed as the frontrunner to replace John Galliano as the head designer at the fashion house.
He has now confirmed he is staying at Louis Vuitton and feels happy with the decision.
"It's a great honour to be considered, and Mr Arnault [chairman of Dior] 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.