LVMH Sells Marc Jacobs Brand to WHP Global After 30 Years

Deal Overview

LVMH Moët Hennessy Louis Vuitton has announced a definitive agreement to sell the Marc Jacobs brand to WHP Global, a prominent brand management firm. This transaction concludes a partnership that spanned nearly three decades, initiated when LVMH acquired a majority stake in 1997.

Key Transaction Details

Under the new ownership, Marc Jacobs will continue his role as Founder and Creative Director. The deal also involves a partnership with G-III Apparel Group, which will acquire certain direct-to-consumer and wholesale operations of the brand. The transaction is anticipated to be finalized before the end of the year, pending standard closing conditions.

Impact on the Fashion Portfolio

The acquisition will integrate Marc Jacobs into WHP Global’s diverse fashion portfolio, which already includes brands like Vera Wang and rag & bone. With this addition, WHP Global's total global retail sales are projected to exceed $9.5 billion, significantly strengthening its market position.

Summary

The sale marks a strategic shift for LVMH while substantially expanding WHP Global's luxury brand holdings. Market observers will be watching how the brand evolves under new management while retaining its founding creative leadership.

FAQ

Q: Who is acquiring the Marc Jacobs brand?
A: WHP Global, a brand management firm, is acquiring the Marc Jacobs brand from LVMH.

Q: Will Marc Jacobs remain with the company?
A: Yes, Marc Jacobs will continue in his role as Founder and Creative Director after the acquisition.

Source: Investing.com