WHP Global and G-III complete acquisition of Marc Jacobs

US brand management firm WHP Global and US fashion company G-III Apparel Group (G-III) have completed the acquisition of American brand Marc Jacobs from French luxury conglomerate LVMH. Concurrently, WHP Global and G-III have formed a joint venture to co-own the Marc Jacobs intellectual property and accelerate the brand's global expansion.

Under the terms of the transaction, the newly formed joint venture is co-owned on a 50 percent equity basis by both parties. WHP Global will lead the joint venture, overseeing global brand licensing, while G-III acquires and leads the operating business, including wholesale, retail and e-commerce operations, as well as providing support services. Founder Marc Jacobs will remain in his role as founder and creative director, retaining responsibility for runway collections, fashion shows and overall creative vision.

“Marc Jacobs is a defining name in fashion, with powerful cultural relevance and global growth potential,” stated WHP Global founder, chairman and chief executive officer Yehuda Shmidman. “We want to thank LVMH for its stewardship of this brand over nearly three decades and for being a trusted partner throughout this process. Together with G-III, we have created a powerful platform that combines best-in-class brand management with exceptional operating expertise.”

G-III chairman and CEO Morris Goldfarb added: “This closing marks an exciting new chapter for Marc Jacobs, a brand with a distinctive creative legacy and global reach. G-III brings the scale and expertise to build and grow global brands, and we look forward to working with the Marc Jacobs team and WHP Global to protect what makes the brand special while supporting its continued growth worldwide.”

The joint venture aims to expand the brand's international presence and explore new market opportunities and product categories. Following the transaction, WHP Global's portfolio—which includes Vera Wang, Dutch brand G-Star and contemporary label Rag & Bone—is expected to surpass 9.50 billion dollars in annual global retail sales.