Marc Jacobs thinks Alexander Wang is "great".

The American fashion designer - who has been creative director of Louis Vuitton since 1997 - praised the Taiwanese clothing creator, along with other youngsters in the industry, and admitted there is "always room" for new starters in fashion.

He said: "People ask me about the younger designers, Alex Wang and all of them, I think they're great. I couldn't do what they do. It's not what I do.

"But just like in pop music and in the art world, people always want new work from the artist that they like but they also want new artists. I don't think one changes the other.

"There's always room for new designers, new musicians, new artists, new writers. Madonna, I don't think is showing any signs of slowing down, but that doesn't mean Lady GaGa isn't taking over the world."

Marc - who was announced as the winner of the Geoffrey Beene Lifetime Achievement prize earlier this year - admitted his company Marc Jacobs, for which he is head designer, has improved with age.

He added to "Going through the learning process and working here and in Paris, I personally think we've built a strength in terms of editing.

"We're all in this because we love fashion and part of that love for fashion is being unapologetic."