LVMH to sell Marc Jacobs after 30 year ownership

French luxury group LVMH is selling Marc Jacobs after 30 years to a joint venture between WHP Global and G-III Apparel Group.

Founder Marc Jacobs will remain the brand's Creative Director after the sale, which is expected to be completed before the end of the year.

While financial details of the deal were not disclosed, a regulatory filing showed that each partner would contribute $425 million (£314 million) to fund the acquisition.

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 and wholesale businesses, while WHP will oversee licensing.

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.

Founded in 1984 by designer Marc Jacobs, the namesake brand today spans handbags, small leather goods, ready-to-wear, footwear, eyewear, 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.

Marc Jacobs said: "I am forever grateful to Bernard Arnault for his support, belief and trust in me over the last 30 years. It has been an honor and privilege to work alongside the Arnault Family and LVMH.

"I remain committed in my role as Creative Director of Marc Jacobs International and look forward to this bright new chapter."

Bernard Arnault, Chairman and CEO of LVMH, added: "Marc Jacobs is a designer of rare creativity and unique vision. His impact on the world of fashion is undeniable, and I want to warmly thank him for his contribution to the success of the Maison and the LVMH Group over the last 30 years. I am confident 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."

The deal 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.