LVMH Moët Hennessy Louis Vuitton signed a definitive agreement to sell Marc Jacobs to brand management firm WHP Global. The transaction concludes a luxury partnership spanning nearly 30 years. Parties expect to finalize the deal by the end of 2024.
Marc Jacobs will remain Founder and Creative Director to maintain the brand's design vision. WHP Global will add the label to its existing fashion portfolio.
G-III Apparel Group will partner with WHP Global on the acquisition. G-III will also acquire specific operational components of the Marc Jacobs business.