LVMH Parts Ways with Marc Jacobs in Strategic Sale
LVMH has sold the Marc Jacobs brand to WHP Global and G-III Apparel Group. WHP will handle licensing, while G-III will manage global operations. Marc Jacobs will stay as creative director. The acquisition aims to enhance WHP's fashion profile. Financial details remain undisclosed.
French luxury giant LVMH has announced the sale of the Marc Jacobs brand to WHP Global and G-III Apparel Group. In a strategic move, WHP and G-III will jointly own Marc Jacobs' intellectual property, with WHP managing licensing and G-III overseeing the brand's global operations.
The renowned fashion designer Marc Jacobs will continue as the creative director, ensuring the brand's unique vision and runway presence remain intact. Founded by Jacobs in 1984, the brand is known for its bold fusion of high fashion and street style, attracting significant attention in the luxury fashion industry.
WHP Global is poised to elevate its premium fashion offerings with the purchase of Marc Jacobs, which joins brands like Vera Wang and rag & bone under its portfolio. The addition is expected to boost WHP's global retail sales to over $9.5 billion, marking a significant milestone for the company.
(With inputs from agencies.)
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