After nearly three decades under LVMH Moët Hennessy Louis Vuitton, the Marc Jacobs brand is being acquired by WHP Global. The companies announced they have entered into a definitive agreement. The terms of their deal were not disclosed.
Designer Marc Jacobs will remain in his role as founder and creative director, to ensure “continuity of the brand’s vision, runway collections and fashion shows,” per the announcement.
As part of the agreement, G-III Apparel Group will partner with WHP Global in owning the brand. G-III will acquire and operate portions of the fashion brand’s DTC and wholesale businesses, while WHP Global will oversee its licensing.
WHP Global is a brand management firm founded in 2019. The company’s portfolio includes Toys R Us, Lands’ End, Babies R Us, Express, Rag & Bone and Vera Wang. With the addition of Marc Jacobs, WHP Global forecasts it will exceed $9.5 billion in global retail sales.
“The acquisition of the Marc Jacobs brand from LVMH marks a defining moment for WHP Global as we welcome one of fashion’s most influential brands into our portfolio,” Yehuda Shmidman, founder, chairman and CEO of WHP Global, said in a statement. “Together with Marc Jacobs, G-III and the team, we look forward to expanding the brand’s global reach and building on its strong legacy for years to come.”
Marc Jacobs International was launched in 1984. The designer’s 1993 Grunge Collection for Perry Ellis, inspired by the music of the period, was a turning point in runway fashion by bridging a gap between luxury and streetwear culture. The show both got Jacobs fired from the fashion house and acted as a catalyst for his career.
LVMH acquired a majority stake in Marc Jacobs in 1997, and the company soon opened its first store in New York City’s SoHo district the same year. In a statement Thursday, LVMH CEO Bernard Arnault thanked Jacobs, calling him “a designer of rare creativity and unique vision,” and said his impact on the fashion industry is "undeniable."
