G-III and WHP GLOBAL Complete Acquisition of Marc Jacobs

G-III and WHP GLOBAL Complete Acquisition of Marc Jacobs

WHP Global and G-III Apparel Group, Ltd. (NasdaqGS: GIII) have announced the completion of the acquisition of the Marc Jacobs brand from LVMH. Concurrently, WHP Global and G-III formed their previously announced joint venture (“JV”) to co-own the Marc Jacobs intellectual property and accelerate the global growth of one of fashion’s most influential brands. At closing, G-III also acquired the Marc Jacobs operating business and entered into a long-term license with the JV.

The new JV is co-owned by WHP Global and G-III, with each party owning a 50% equity stake. G-III owns and leads the operating business including wholesale, retail and e-commerce, and provides support services to the JV. 

“Marc Jacobs is a defining name in fashion, with powerful cultural relevance and global growth potential,” said Yehuda Shmidman, Founder, Chairman and CEO of WHP Global. “We want to thank LVMH for its stewardship of this brand over nearly three decades and for being a trusted partner throughout this process. Together with G-III, we have created a powerful platform that combines best-in-class brand management with exceptional operating expertise.”

“This closing marks an exciting new chapter for Marc Jacobs, a brand with a distinctive creative legacy and global reach,” said Morris Goldfarb, Chairman and Chief Executive Officer of G-III Apparel Group. “G-III brings the scale and expertise to build and grow global brands, and we look forward to working with the Marc Jacobs team and WHP Global to protect what makes the brand special while supporting its continued growth worldwide.”