ENXTPA:MCLuxury
LVMH Sale Of Marc Jacobs Refocuses Portfolio On Core Luxury Houses
LVMH Moët Hennessy - Louis Vuitton Société Européenne has reached a definitive agreement to sell the Marc Jacobs brand to a joint venture between WHP Global and G-III Apparel Group.
The joint venture will be owned 50/50 by WHP Global and G-III, with G-III operating the business under a licensing arrangement.
Marc Jacobs will remain founder and creative director of the brand following the transaction.
For investors following ENXTPA:MC, this is a rare instance of LVMH exiting a well known...