LVMH is selling the Marc Jacobs fashion brand to a joint venture between WHP Global and G-III Apparel Group for up to one billion dollars.The founder Marc Jacobs will remain in his role as creative director after the transition closes by the end of 2026.This strategic divestiture allows the luxury parent company to streamline its portfolio amid slowing organic growth in the sector.G-III Apparel Group will manage the global retail business while
WHP Global oversees the licensing operations for the label.