LVMH sells Marc Jacobs after nearly thirty years within its fold

The French luxury group LVMH is turning a page in its fashion portfolio with the announced sale of the Marc Jacobs brand to the American fund WHP Global, which already owns several labels such as Rag & Bone and G-Star. The deal, officially announced on Thursday, marks the end of nearly thirty years of control of the New York-based fashion house by the French luxury giant.

The exact amount of the transaction has not been disclosed, but several American media outlets are reporting a valuation close to one billion dollars. In this arrangement, the G-III Apparel Group will also participate in the operation of certain commercial activities of the brand, particularly in distribution and ready-to-wear. Designer Marc Jacobs will, however, retain his role as creative director after the change in ownership.

A strategic refocusing on luxury

This sale is part of a broader strategy by LVMH to refocus on its most profitable brands, such as Louis Vuitton and Dior, in a context of slowing global luxury markets. Discussions about a possible sale of Marc Jacobs had already been circulating in the fashion and finance sectors for several months.

Founded in New York in 1984, the Marc Jacobs brand joined the French group in 1997, the same year its founder also took over as artistic director of Louis Vuitton. Despite strong cultural recognition and several successful relaunch campaigns in recent years, the label remained a more modest player within the LVMH empire, far from the performance of the group's major historical brands.