LVMH announced May 14, 2026 it has agreed to sell the Marc Jacobs brand to a joint venture controlled by WHP Global and G-III Apparel Group for approximately $500 million, ending nearly three decades of ownership by the French luxury conglomerate. The deal, disclosed in an official joint press release from LVMH and WHP Global, is expected to close in the third calendar quarter of 2026, subject to regulatory approval. Marc Jacobs himself will remain as Founder and Creative Director post-closing, preserving creative continuity at the label he co-founded in 1984.
The transaction marks one of the most significant fashion M&A deals of the year and signals LVMH’s continued portfolio rationalization toward core luxury houses. G-III Apparel Group (NASDAQ: GIII) is funding the purchase through cash on hand and its revolving credit facility, without issuing new equity.
Deal Structure and Financial Terms
The transaction is structured as a 50/50 joint venture between WHP Global and G-III Apparel Group, which will jointly own the Marc Jacobs intellectual property. G-III will separately acquire the global Marc Jacobs operating business — including direct-to-consumer retail and wholesale operations — and secure a long-term licensing agreement from the JV.
The $500 million price represents a significant discount from LVMH’s reported 2025 asking price of approximately $1 billion, when talks with Authentic Brands Group collapsed over price and concerns around Marc Jacobs’ ongoing creative involvement.
Per G-III SEC filing disclosures, the company expects the acquisition to be dilutive in the first 12 months post-closing, with accretion projected thereafter. G-III used UBS as financial advisor and Paul Weiss as legal counsel. WHP Global was advised by Morgan Stanley and Gibson Dunn.
Marc Jacobs Remains as Founder and Creative Director
The agreement explicitly preserves Marc Jacobs’ role at the brand, addressing the central sticking point that derailed the previous ABG negotiation. Continuity at the creative helm protects the label’s identity through the ownership transition, including the brand’s Marc Jacobs Pre-Fall 2026 campaign and forthcoming collections.
“I am forever grateful to Bernard Arnault for his support, belief and trust in me over the last 30 years,” Marc Jacobs said in the joint statement. LVMH originally acquired the brand in 1997, three years after launching Jacobs’ eponymous label within Louis Vuitton’s broader expansion.
“Marc Jacobs is a designer of rare creativity and unique vision. His impact on the world of fashion is undeniable.” — Bernard Arnault, Chairman and CEO, LVMH
WHP Global’s Expanding Premium Fashion Portfolio
WHP Global, founded in 2019 and headquartered in New York, operates a brand management portfolio of more than 15 labels across fashion and sports, generating $8.5 billion in annual retail sales across 80+ countries. Marc Jacobs joins existing premium holdings including Vera Wang, Rag & Bone, and G-Star.
The company projects post-deal global retail sales will exceed $9.5 billion. WHP CEO Yehuda Shmidman called the transaction “a defining moment” for the company and said the strategy is focused on expanding Marc Jacobs’ global reach through licensing-led distribution. WHP also operates a proprietary AI Innovation Lab for portfolio brand management.
The licensing-driven ownership model — increasingly favored by brand management firms — contrasts sharply with the operational-ownership approach LVMH has used for three decades.
LVMH’s Strategic Portfolio Realignment
The Marc Jacobs sale extends LVMH’s narrowing focus on core luxury houses including Louis Vuitton, Dior, and Céline. Marc Jacobs straddled high fashion and accessible streetwear — a positioning that delivered inconsistent performance within LVMH’s luxury-first portfolio.
The divestiture parallels broader luxury sector rationalization. Kering disclosed similar streamlining at its Kering’s ReconKering portfolio strategy presentation earlier this year, while Burberry’s return to profitability and Saks Global’s bankruptcy exit underscore the volatile mid-luxury operating environment.
LVMH retains its emerging-designer development pipeline, including the LVMH Prize 2026 and consumer-facing programming such as LVMH Les Journées Particulières.
G-III Apparel’s Growing Brand Stable
G-III Apparel Group already operates Donna Karan, DKNY, and Karl Lagerfeld under various ownership and licensing arrangements. The Marc Jacobs deal — disclosed in a G-III Apparel Group press release — significantly expands its premium fashion footprint.
“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.” — Morris Goldfarb, Chairman and CEO, G-III Apparel Group
The multi-brand operating model echoes recent moves by peers including the strategic shifts disclosed in Tapestry’s Q3 2026 results. G-III brings established infrastructure for scaling fashion brands across wholesale, retail, and licensed categories.
The deal is expected to close in G-III’s fiscal Q3 2027 (calendar Q3 2026), pending regulatory approval. FloraDress will continue tracking ownership changes and creative leadership moves across the luxury sector as the transaction progresses.
