04:03 AM EDT, 05/15/2026 (MT Newswires) -- LVMH Moët Hennessy - Louis Vuitton (MC.PA) on Thursday entered a definitive sale agreement for the Marc Jacobs brand with G-III Apparel Group and brand management firm WHP Global.

Under the deal, American fashion company G-III Apparel and WHP Global will establish a 50-50 joint venture that will own the intellectual property of Marc Jacobs. While the financial terms were not disclosed, details from a G-III Apparel regulatory filing showed that the JV partners each plan to contribute up to $425 million toward the transaction.

The move comes on the back of a Financial Times report published on May 5, claiming the French luxury retail group is evaluating the sale of "mainly underperforming"brands and minority interests as part of efforts to manage costs amid a period of softer demand. LVMH has owned a majority stake in Marc Jacobs since 1997.

The transaction is expected to close before the end of 2026. G-III Apparel will then purchase the operating business from the joint venture, while WHP Global will manage licensing.

Marc Jacobs will retain his position as founder and creative director.

By Friday midday, LVMH's Paris-listed stock more than 1% down.