It’s a new chapter for Marc Jacobs. Four months after WHP Global and G-III announced they would acquire the brand from LVMH, the American label has officially changed hands in a $925 million (approximately €800 million) deal. To that end, the two groups have formed a joint venture under which each will own 50% of Marc Jacobs’ intellectual property, with the aim of accelerating the brand’s international expansion.
G-III has acquired Marc Jacobs’ operations and entered into a long-term licensing agreement with the joint venture. “This transaction marks the beginning of a new era for Marc Jacobs, a brand with a rich creative heritage and global renown,” said Morris Goldfarb, chairman and chief executive officer of G-III Apparel Group. “G-III has the scale and expertise to build and develop global brands, and we look forward to working with the Marc Jacobs team and WHP Global to preserve what makes the brand unique, whilst supporting its continued growth worldwide.”
For its part, WHP Global will oversee the joint venture, including the management of the brand’s licensing worldwide. Under this new structure, Marc Jacobs will retain his role as founder and creative director. “Marc Jacobs is an iconic fashion brand with significant cultural influence and considerable international growth potential,” said Yehuda Shmidman, founder, chairman and chief executive officer of WHP Global.
“We would like to thank LVMH for its stewardship of this brand for nearly 30 years and for its unwavering support throughout this process. Together with G-III, we have created a powerful platform that combines best-in-class brand management with unrivalled operational expertise,” he added. Together, WHP Global, G-III, and Marc Jacobs aim to expand the brand’s global presence and explore new opportunities across various markets and product categories.