LVMH to Sell Marc Jacobs for $850 Million
Luxury conglomerate LVMH has agreed to sell its fashion brand Marc Jacobs to WHP Global and G-III in a deal valued at $850 million. Each company will invest $425 million, acquiring equal stakes through a joint venture called MJ Topco (IPCo). The transaction includes the transfer of intellectual property rights while G-III takes over operations under an exclusive license.
Tickers: $GIII
Topics: G-III LVMH Marc Jacobs WHP Global