LVMH, WHP Global to Close Marc Jacobs Deal
Luxury brand Marc Jacobs, which includes a portfolio of handbags, ready-to-wear footwear, eyewear, fragrances and more, will soon be owned by brand management firm WHP Global, home to Vera Wang, Rag & Bone and G-Star.
Luxury product group LVMH Moët Hennessy Louis Vuitton will offload the brand after a nearly 30-year period of owning a majority stake. Its fashion division includes names such as Louis Vuitton, Christian Dior, Givenchy, Fendi and more.
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This is part of WHP's strategy to strengthen its presence across high-growth global fashion categories. The purchase will help WHP surpass $9.5 billion in global retail sales.
Once the deal closes by year-end, Marc Jacobs will continue as founder and creative director.
As part of this, G-III Apparel Group joins WHP Global in its ownership of Marc Jacobs and will acquire and operate specific parts of the brand's global direct-to-consumer and wholesale business.
G-III and WHP Global will pair their respective licensing power and operating capabilities to help drive growth for the Marc Jacobs brand.
G-III owns 10 brands, including DKNY, Donna Karan, Karl Lagerfeld, Sonia Rykiel and Vilebrequin, and licenses more than 20 global fashion brands, including Calvin Klein, Tommy Hilfiger, Levi's, Halston, Champion, Converse, Cole Haan, BCBG, French Connection and Starter, as well as major sports leagues such as the NFL, NBA, NHL and MLB, among others.
