LVMH Moët Hennessy Louis Vuitton SE is selling the Marc Jacobs fashion brand for $850 million. WHP Global and G-III Apparel Group will acquire the brand’s intellectual property through a 50-50 joint venture. G-III will also acquire and operate the retail, e-commerce, and wholesale businesses.
LVMH has held a majority stake in the company since 1997. Founder Marc Jacobs will continue in his role as Creative Director. The brand recently underwent strategic shifts to regain profitability following its peak popularity in the early 2000s.
The transaction is expected to close by the end of the year. The deal remains subject to regulatory approvals.