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Luxury conglomerate LVMH has announced the sale of Marc Jacobs to WHP Global, a New York-based brand-management firm that also owns Vera Wang and Rag & Bone. This acquisition significantly expands WHP Global’s portfolio, which includes G-Star, Joe’s, and Express.
G-III Apparel Group, owner of Donna Karan, will join WHP Global in the ownership of Marc Jacobs. Following the transaction, G-III and WHP Global will establish a 50/50 joint venture to hold Marc Jacobs’s intellectual property. G-III will then acquire the Marc Jacobs operating business from this joint venture and enter a long-term licensing agreement. This arrangement represents an approximately $500 million investment for G-III, placing the deal’s estimated total valuation around $1 billion.
With the integration of Marc Jacobs, WHP Global projects its global retail sales will surpass $9.5 billion.
Bernard Arnault, LVMH Chairman and CEO, commended Marc Jacobs as “a designer of rare creativity and unique vision,” acknowledging his “undeniable impact on the world of fashion.” Arnault also thanked Jacobs for his “contribution to the success of the maison and the LVMH Group over the last 30 years,” expressing confidence that “this new chapter will offer new avenues of opportunity for Marc Jacobs, that the brand and its designer will continue to inspire customers and creators around the world.”
Morris Goldfarb, Chair and CEO of G-III, emphasized the strategic importance of the acquisition: “Marc Jacobs is one of the most influential names in fashion. This transaction underscores our long-standing commitment to building a diversified portfolio of iconic, globally relevant brands.”
Marc Jacobs will maintain his role as founder and creative director, ensuring the continuity of the brand’s vision, runway collections, and fashion shows.
In an Instagram post, Marc Jacobs conveyed his positive outlook on the new partnership, noting the “genuine and sincere” respect he felt from WHP Global Chair and CEO Yehuda Shmidman for the brand. He also extended gratitude to his teams at Marc Jacobs International and to Bernard Arnault for his “support, belief, and trust” over the past three decades, describing his tenure with the Arnault family and LVMH as “an honor and a privilege.”
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