LVMH To Sell Marc Jacobs Brand
(RTTNews) - LVMH Moet Hennessy Louis Vuitton SE (MOH.DE, LVMHF.PK, MC.PA), a major French luxury products company, has inked a deal with WHP Global, a brand manager, to sell Marc Jacobs brand.
With the Marc Jacobs brand, WHP Global will exceed $9.5 billion in global retail sales.
The transaction is expected to be closed before the year-end. Post transaction, the brand will become a cornerstone of WHP Global's premium fashion vertical, joining Vera Wang, rag & bone, and G-STAR to boost the company's presence across high-growth global fashion categories.
Marc Jacobs will also continue in his role as founder and creative director of the brand.
Contemporaneously with the transaction, G-III Apparel Group, Limited will join with WHP Global in its ownership of the Marc Jacobs brand.
Marc Jacobs is a maker of fashion handbags, small leather goods, ready-to-wear, footwear, eyewear, and fragrance.
