Marc Jacobs is launching an affordable line called 'The Marc Jacobs'

Marc Jacobs confirmed the existence of the new collection on Instagram

Marc Jacobs is launching a new collection called The Marc Jacobs (Getty)

Marc Jacobs is launching a new affordably priced label called "The Marc Jacobs."

The new label was announced by Women’s Wear Daily, which revealed the line will be introduced for pre-fall 2019.

According to WWD, which saw an image from the line’s new look book, The Marc Jacobs will feature such items as colourful rugby sweaters, corduroy pants, and accessories.

The designer also hired Russian stylist Lotta Volkova to style the look book, which was shot by Hugo Scott.

While not much else is currently known about the new “democratically priced” label, a spokesperson for the brand did tell WWD that more images would be published in May - and that the line is part of a collection that also includes a “Runway” component.

On Instagram, Jacobs acknowledged the existence of the new collection, writing that the image of the line was leaked.

"Consider it a taste of things to come," he wrote, before referring to the collections as "fantastic and fresh."

Although there has been no confirmation, The Marc Jacobs may resemble the former lower-priced Marc by Marc Jacobs label - which was discontinued in 2015.

The announcement of the new brand, which shares the same name as Jacobs’ Instagram handle, comes after increasing speculation that the designer would leave his namesake brand amidst declining sales.

In the beginning of the year, it was announced by Business of Fashion that the LVMH-owned company Jacobs would close its London store, as well as other European brick-and-mortar locations.

This year the designer also announced the re-release of the Redux Grunge collection, a collection of 1993 looks that got him fired from Perry Ellis, and a collaboration with Dr Martens to create a range of limited-edition boots.

The Independent has contacted Marc Jacobs for comment.