LVMH Completes Sale of Marc Jacobs to WHP Global and G-III Apparel Group
Luxury conglomerate LVMH has finalized the sale of its iconic fashion brand, Marc Jacobs, for approximately $925 million. The acquisition is a joint venture between private equity firm WHP Global and apparel group G-III Apparel Group (GIII MC.PA), with each owning 50% of the brand. Additionally, G-III acquired the operating business based in the U.S. and Europe. WHP will lead the new joint venture while G-III handles wholesale, retail, and e-commerce operations. Marc Jacobs himself remains as creative director and public face of the brand. The sale marks a significant shift for LVMH after nearly three decades of ownership since acquiring the label in 1997. Both WHP Global's Yehuda Shmidman and G-III’s Morris Goldfarb expressed confidence in their ability to grow Marc Jacobs while preserving its heritage, emphasizing strategic expansion through new licenses and increased wholesale sales.
Topics: Brand Acquisition Fashion LVMH Marc Jacobs