Before Marc Jacobs became one of the most recognizable names in fashion, he was a fashion student at New York's acclaimed Parsons School of Design. His award-winning final project received a lot of press, but he was hardly an overnight success. For years, Marc and business partner Robert Duffy struggled, taking various jobs at places such as Perry Ellis, where Marc created one of the most critically slammed collections in history. After presenting that grunge-inspired collection, Marc and Robert were immediately fired. Eventually, Marc's grunge look caught on, but it was little consolation for the jobless duo.

Marc says he and Robert were finally able to set up a small studio where they could create their own collection. In 1997, Marc was approached by the world-renowned fashion empire, Louis Vuitton. Marc says he struck a deal with the company: He would become their creative director if they would help him and Robert continue what they love doing most—the Marc Jacobs line.

Marc's namesake line skyrocketed with his now classic Venetia bag. And the rest is fashion history.