Luxury giant LVMH has reached an agreement to sell the Marc Jacobs brand to WHP Global. The deal is expected to close by the end of the year after regulatory approvals.
LVMH and WHP Global announced on Thursday a definitive agreement for the American investment firm to acquire Marc Jacobs. The transaction amount has not been disclosed.
The brand, acquired by LVMH in 1997, will retain its namesake creator Marc Jacobs as creative director once the sale is completed.
WHP Global already owns the rag&bone, G-Star and Vera Wang brands. Completion is scheduled by the end of the year, subject to necessary regulatory approvals.