LVMH completes its exit from Marc Jacobs in sale to WHP Global and G-III
WHP Global and G-III Apparel Group have closed their purchase of Marc Jacobs from LVMH, splitting the label's intellectual property from its stores under a new joint venture -- a deal that lands the same week the brand opens a new permanent store at Isetan Shinjuku.
WHP Global and G-III Apparel Group said on September 1 that they had closed their previously announced acquisition of Marc Jacobs from LVMH, according to a joint statement distributed via GlobeNewswire. Under the deal, WHP and G-III each hold a 50% stake in a newly formed joint venture that owns the Marc Jacobs intellectual property, while G-III separately acquired the brand's operating business -- its wholesale, retail and e-commerce operations, including more than 100 stores concentrated in the US and Europe -- under a long-term licence with the new venture.