LVMH has agreed to sell the Marc Jacobs fashion label to a 50-50 venture between WHP Global and G-III Apparel Group, a rare divestment for the luxury giant amid softer demand. Financial terms were not disclosed, but G-III said it expects to invest up to $425 million in the new partnership. Marc Jacobs will remain creative director, keeping creative leadership with the brand’s founder. The deal also expands WHP’s portfolio and lifts its annual revenue beyond $9.5 billion.
Giorgio Armani’s fashion house is reportedly preparing to sell its 15% stake after the designer’s death, dividing it into three equal parts. LVMH, L’Oreal, and EssilorLuxottica have been named as preferred buyers, with the transaction expected to close within 12 to 18 months of Armani’s passing.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
