French luxury group LVMH has completed the $925 million sale of Marc Jacobs after 30 years of ownership to a joint venture between WHP Global and G-III Apparel Group.
The 50/50 deal between the two partners extends to the brand’s intellectual property, with G-III, which owns brands such as Karl Lagerfeld and DKNY, acquiring and operating certain parts of the brand’s global direct-to-consumer, retail and wholesale businesses, centred in the US and Europe, including 100 stores.
Meanwhile, WHP Global is planning to make Marc Jacobs a core part of its premium fashion portfolio, which already includes Vera Wang, Rag & Bone and G-STAR. It will oversee licensing and lead the joint venture that holds the brand.
Yehuda Shmidman, founder, Chairman and Chief Executive Officer of WHP Global, told WWD: “Marc Jacobs is a defining name in fashion, with powerful cultural relevance and global growth potential. Together with G-III, we have created a powerful platform that combines best-in-class brand management with exceptional operating expertise.”
Morris Goldfarb, Chairman and CEO of G-III, added that his company “brings the scale and expertise to build and grow global brands, and we look forward to working with the Marc Jacobs team and WHP Global to protect what makes the brand special while supporting its continued growth worldwide”.
While Jacobs, who founded the company in 1984 with Robert Duffy, remains Creative Director and will continue to be the face of the brand, it is still a major turning of the page for one of fashion’s top brands.
Founded in 1984 by Jacobs, the namesake brand today spans handbags, small leather goods, ready-to-wear, footwear, eyewear and fragrance and has a strong global presence.
LVMH first acquired a majority interest in the label in 1997, the same year Jacobs joined Louis Vuitton as Creative Director.
The deal, which was first announced in May, comes against the backdrop of a challenging luxury market that has been hit by the conflict in the Middle East. LVMH reported that organic growth for the first quarter of 2026 was reduced by approximately 1%.
Looking ahead, LVMH stated that it remained attentive to the evolving environment while continuing to focus on brand development through investment, product innovation, and controlled distribution. The sale of Marc Jacobs fits into its broader strategy to rationalise its assets.
LVMH has reportedly been shortlisted as one of three preferred bidders for an equal share in Italian fashion house Giorgio Armani, which is said to be exploring a 15% stake sale. However, the sale of the share could be delayed beyond March 2027 as weak luxury market conditions have slowed preparations for the ownership transition.