WHP Global has closed its purchase of LVMH's majority stake in Marc Jacobs, bringing in G-III Apparel Group as co-owner. Marc Jacobs will remain creative director as the brand shifts focus to licensing under WHP and retail/wholesale operations under G-III.
After months of speculation, the transaction has now closed. LVMH, which acquired a stake in the label in 1997, has transferred control to WHP Global. G-III Apparel Group, already a partner on several other brands, will oversee Marc Jacobs stores and wholesale, while WHP manages licensing. G-III's portion of the investment is approximately $500 million. The brand's creative leadership remains unchanged with founder Marc Jacobs continuing as creative director.