LVMH sells Marc Jacobs after 29 years of ownership

LVMH has signed an agreement to sell Marc Jacobs to brand management firm, WHP Global, in partnership with G-III Apparel Group.

LVMH, which has brands like Hublot, Zenith, and TAG Heuer in its portfolio, bought a majority stake in Marc Jacobs back in 1997

Since then, the licence for Marc Jacobs watches has changed hands a couple of times, with Fossil Group managing the brand between 2004 and 2019, before Bedrock Manufacturing — which is the parent company of American watch brand Shinola — took it on.

Founder Marc Jacobs himself will remain as creative director, and he thanked LVMH for the role that it’s played in the growth of the brand. “I am forever grateful to [LVMH owner] Bernard Arnault for his support, belief, and trust in me over the last 30 years. It has been an honour and privilege to work alongside the Arnault Family and LVMH,” he said.

WHP Global’s fashion portfolio includes Vera Wang, Rag & Bone, and G-Star. 

The deal is expected to be finalised before the year’s end, subject to conditions.