economy
Marc Jacobs will change owners after three decades under the control of the French conglomerate LVMH
WHP Global and G-III, the new owners of Marc Jacobs Photo: iStock
TL;DR
- Marc Jacobs will be acquired by WHP Global and G-III by the end of 2026, after nearly three decades under LVMH.
- The transaction is estimated to be worth around $1 billion.
- Marc Jacobs will remain with the brand as Creative Director.
- LVMH has been divesting assets, including Off-White and its stake in Stella McCartney, amid a luxury market slowdown.
- WHP Global and G-III are expanding their portfolios with this acquisition.