LVMH to divest Marc Jacobs to WHP Global and G-III joint venture
New 50/50 partnership will hold intellectual property while G-III manages operations, with deal expected to close before year-end.
French luxury conglomerate LVMH has reached a definitive agreement to sell the Marc Jacobs brand to a newly formed joint venture between WHP Global and G-III Apparel Group. The transaction marks the end of a 30-year relationship, during which LVMH served as the majority owner of the designer label since 1997. Under the deal’s structure, the joint venture will acquire the brand’s intellectual property, while G-III will purchase the operating business and enter into a long-term licensing arrangement.
Marc Jacobs will retain his position as founder and creative director, continuing to oversee the fashion house’s creative output, runway collections, and events. In a statement, Jacobs expressed gratitude to LVMH chairman and CEO Bernard Arnault for his support over the past three decades, describing the move as a new chapter for the brand. Arnault praised Jacobs’ unique vision and impact on the fashion industry, expressing confidence that the transition would open new avenues for growth.
The joint venture is structured as a 50/50 partnership designed to leverage WHP Global’s licensing platform alongside G-III’s operational capacities. G-III will assume responsibility for certain global direct-to-consumer and wholesale operations, aiming to advance the brand’s expansion through this combined expertise. The acquisition adds Marc Jacobs to WHP Global’s existing premium fashion portfolio, which includes Vera Wang, rag & bone, and G-STAR.
Following the completion of the deal, WHP Global’s combined retail sales are projected to exceed $9.5 billion. LVMH facilitated the brand’s global presence and product category expansion during its tenure as majority owner. The transaction is subject to standard closing conditions and is expected to finalise before the end of the year.
While specific financial terms were not disclosed by the parties involved, media reports indicate that WHP Global and G-III Apparel Group are raising up to $850 million to fund the acquisition. The information regarding the sale was originally published by Just Style, a brand owned by GlobalData.
