LVMH Sells Marc Jacobs To WHP Global, Ending A 30-Year Luxury Run
LVMH has agreed to sell Marc Jacobs to WHP Global, ending nearly 30 years of ownership, with G-III Apparel Group set to co-own and operate the brand. Marc Jacobs will stay on as creative director. Financial terms were not disclosed, but G-III expects to invest about $500 million. The deal is expected to close before year-end, pending regulatory approval.