WHP Global and G-III Apparel form a joint venture to acquire Marc Jacobs, expanding their combined retail sales beyond $9.5bn.
LVMH has agreed to sell Marc Jacobs to WHP Global and G-III Apparel Group, forming a 50/50 joint venture to own the brand’s intellectual property. G-III will acquire the operating business and assume global direct-to-consumer and wholesale operations under a long-term licensing deal.
The transaction positions WHP Global to exceed $9.5bn in combined retail sales, adding Marc Jacobs to its portfolio alongside Vera Wang and rag & bone. LVMH has owned a majority stake in Marc Jacobs since 1997, supporting its global expansion.
Marc Jacobs will remain as creative director, overseeing collections and runway events. The deal marks a strategic shift for LVMH while leveraging WHP’s licensing and G-III’s operational capabilities.