THE WHAT? LVMH has entered into a definitive agreement to sell fashion brand Marc Jacobs to brand management company WHP Global.
THE DETAILS The deal will see WHP Global acquire the Marc Jacobs business from LVMH, marking a rare brand divestment by the luxury group. Marc Jacobs, who founded the label alongside Robert Duffy in 1984, will remain in his role as creative director and continue overseeing the brand’s creative vision, runway collections and fashion shows. Reports of a potential sale had circulated for some time, with LVMH previously nearing an agreement with Authentic Brands Group last year before negotiations collapsed.
THE WHY? The sale reflects LVMH’s ongoing portfolio management strategy, while allowing Marc Jacobs to continue operating under new ownership with creative continuity maintained.
Source: WWD
