LVMH to Sell Marc Jacobs to WHP Global, G-III as Buyers Raise $850 Million
The deal gives WHP Global and G-III joint ownership of Marc Jacobs, and WHP says the brand will push its retail sales above $9.5 billion.
- On Thursday, LVMH announced the sale of the Marc Jacobs brand to WHP Global and G-III Apparel Group, with intellectual property ownership transferring to a newly formed 50/50 joint venture.
- LVMH acquired a majority stake in Marc Jacobs in 1997, building its global retail presence; founder Marc Jacobs will remain creative director to ensure continuity of the brand's runway collections and vision.
- G-III is investing approximately $500 million to acquire and operate the global business, while WHP Global will manage licensing for the brand valued at around $1 billion. The deal closes before year end.
- With Marc Jacobs, WHP Global will surpass $9.5 billion in global retail sales, while G-III chair and CEO Morris Goldfarb called the brand "one of the most influential names in fashion."
- WHP Global CEO Yehuda Shmidman called the acquisition a "defining moment," positioning Marc Jacobs as a cornerstone of the firm's premium fashion vertical alongside Vera Wang and Rag & Bone.
67 Articles
67 Articles
The buyers state in a press release that they are raising 850 million dollars to finance the deal.
After thirty years in the lead of the world's number one luxury company, the 63-year-old designer brand is to be bought by the end of the year by the WHP Global investment company.
French luxury goods giant LMVH is selling its famous brand to Americans. The deal is expected to close by the end of the year.
LVMH, the world's largest luxury conglomerate, agreed to sell the fashion brand Marc Jacobs for a partnership between WHP Global and G-III Apparel Group, in a rare deinvestment movement of the French group in the midst of slowing down global demand for luxury products. Going through turbulence: Boeing shares fall after Trump announces purchase of planes by China smaller than expected In addition to hosting: Accor makes its internal shopping plat…
The luxury market is experiencing an earthquake as a result of global economic uncertainty. Its foundations began to falter with the fall of Chinese demand, its main market, also suffered with the tariff war unleashed by Donald Trump and have been hit, in addition, by the collapse of sales in the Middle East in these more than two months in which the war in Iran is already prolonged. The sector has already embarked on a model change that is forc…
LVMH has concluded the sale of Marc Jacobs to the WHP Global and G-III duo for about $1 billion. After nearly 30 years in the lead of the French group, the fashion brand will be under American control by the end of the year.
Coverage Details
Bias Distribution
- 44% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
