It looks like the rumors are true, designer Marc Jacobs who gave us the sweet fragrance Honey is leaving Louis Vuitton after 16 years to concentrate on his own fashion label which is currently nearing $1 billion in sales, according to a high-level executive at LVMH Moët Hennessy Louis Vuitton.

Although no formal announcement has been made, according to the New York Times, the 50-year-old designer confirmed his departure backstage at the show.

His notes in the program for the Louis Vuitton spring 2014 show on Wednesday ended with the words, "For Robert Duffy and Bernard Arnault, All my love, Always."

The message referred to Jacobs's business partner, Duffy, and to the chairman and chief executive of LVMH Arnault.

In the pasts rumors have surfaced that LVMH struggled with Marc Jacobs at times due to his erratic behavior and recent contract negotiations reportedly looked dim. However, an executive said that the company and designer were on excellent terms.

In fact the designer was praised for his time at Louis Vuitton which was described as "inouï," or amazing, and now his focus will be placed on further growth of the Marc Jacobs brand.

However, the mood of his final show with Vuitton was melancholy with Edward Enninful, the fashion and style director of W magazine saying, "It's like a funeral."

When a model in a jumpsuit with graffiti print written on it featuring the words "I Love Paris" took the runway during the "goodbye" show it became clear that this departure was indeed a sad one.

Marc Jacobs said, "It was an ode to Paris and to all the people I have been involved and work with. This city has been so great."

"Marc is absolutely significant to fashion," said Ken Downing, the fashion director of Neiman Marcus.

He added, "But as we have seen at many other houses, designers have taken a hiatus or been replaced by other talents. It has been a Marc moment for many years here, but fashion is an industry of change. It is never the same day any day."

Marc Jacobs is expected to return to New York where his fashion power house is based and plans to take the company public within the next three years, according to a report from Women's Wear Daily.