LVMH Agrees to Sell Marc Jacobs Brand to WHP Global
Luxury conglomerate LVMH has agreed to sell the Marc Jacobs brand to WHP Global, a move that will see the creation of a 50/50 joint venture for intellectual property ownership. G-III Apparel Group will acquire operational control and enter into long-term licensing arrangements with the JV. The deal is expected to expand WHP's premium fashion portfolio and boost its retail sales beyond $9.5 billion.
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Topics: G-III Apparel Group Joint Venture LVMH Marc Jacobs WHP Global