"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," Jacobs told British newspaper The Telegraph, before being asked if the staying at Vuitton was his choice.
"Well it's a little bit more complicated than that but we agreed that it was probably best for everyone."
Jacobs is now focusing on his work at Vuitton and it's just been announced that the company is planning a fragrance.
Perfumer Jacques Cavallier-Belletrud is working on it.
"Perfume is something I wanted to do here since the beginning," Jacobs said.
"I don't know when it will be launched but we are in the process of working on it - there was a perfume back in the Twenties, a very niche little thing."
The designer also discussed the upcoming exhibition in Paris which is dedicated to him and the fashion house. Louis Vuitton - Marc Jacobs will be staged at Musee des Arts Decoratifs from March and will see some of the label's most iconic pieces displayed.
- AAP