In my humble opinion, Louis Vuitton has squandered its reputation of late. Although I've never known the true promise of the French apparel, it goes against the grain for me that almost everybody brags about a LV-bag - mostly simple forgeries which have no bearing at all on the prestige brand.
In the meantime, Marc Jacobs has poured oil on troubled waters. He definitely succeeded in abandoning the bourgeois image of Louis Vuitton: The new video lookbook provides evidence of it.