Designer Marc Jacobs and LVMH Moët Hennessy Louis Vuitton, which owns Marc Jacobs International, will be honored by Parsons School of Design on May 19 for the company's contributions to fashion design.

WWD reported that Jacobs will receive his award from Anna Wintour, Condé Nast's artistic director and Vogue editor-in-chief, at the school's 67th annual Parsons Fashion Benefit. Saks Fifth Avenue president Marc Metrick will present the award to LVMH.

This is Jacobs' second time being honored by the school since graduating from the institution in 1984. The designer was also awarded the Fashion Benefit's Designer of the Year award following his graduating student runway show.