Luxury giant LVMH is officially selling Marc Jacobs to WHP Global, marking one of the biggest fashion acquisitions of the year. The deal, announced Thursday, will see WHP Global acquire the Marc Jacobs brand alongside partner G-III Apparel Group, the company behind brands like Donna Karan. According to reports tied to the announcement, the transaction values Marc Jacobs at roughly $1 billion. Despite the ownership change, Marc Jacobs will remain in place as founder and creative director, continuing to oversee the label’s collections, runway presentations, and overall creative direction.
In a statement, LVMH chairman and CEO Bernard Arnault praised Jacobs’ decades-long impact on the company and fashion industry.
“Marc Jacobs is a designer of rare creativity and unique vision,” Arnault said. “His impact on the world of fashion is undeniable.”
Marc Jacobs later shared his own statement on Instagram, thanking Arnault and LVMH for supporting him throughout the past 30 years.
“When I met with Yehuda Shmidman, it was abundantly clear that his respect, admiration, appreciation, and love for the house we built was genuine and sincere,” Jacobs wrote.
WHP Global chairman and CEO Yehuda Shmidman now adds Marc Jacobs to a growing portfolio that already includes brands such as Vera Wang, Rag & Bone, Express, and G-Star.
Following the acquisition, WHP Global says its portfolio will exceed $9.5 billion in annual global retail sales.
Marc Jacobs originally founded his label in 1984 alongside longtime business partner Robert Duffy. LVMH later acquired a majority stake in the company in 1997 after appointing Jacobs as the first-ever creative director of Louis Vuitton.
Over the years, the Marc Jacobs label evolved from a downtown New York fashion brand into a globally recognized luxury house. The company also launched several notable sub-labels, including Marc by Marc Jacobs in 2001 and the youth-focused Heaven by Marc Jacobs in 2020.
The sale comes during a broader period of restructuring across the luxury industry, with LVMH increasingly focusing on its largest and most profitable brands. In recent years, the company has also sold stakes or operations connected to Stella McCartney, Off-White, and DFS operations in Greater China.
Fashion insiders have long speculated that LVMH could reduce its portfolio amid slowing luxury spending worldwide, particularly among accessible luxury labels that have been more affected by recent consumer pullbacks.
Still, Marc Jacobs remains one of the most influential American designers in modern fashion. His recent runway collections have continued to attract major attention, especially after the release of the documentary Marc by Sofia, directed by longtime friend Sofia Coppola.
Jacobs also recently made a cameo appearance in The Devil Wears Prada 2, further cementing his lasting influence on fashion and pop culture.