VMH to Sell Marc Jacobs to WHP Global and G-III Apparel Group in $850 Million USD Deal

SummaryFrench luxury giant LVMH Moët Hennessy Louis Vuitton has entered into a definitive agreement to sell the Marc Jacobs brand for a reported $850 million USDThe buyers are brand-management firm WHP Global and G-III Apparel Group, who have formed a 50/50 joint venture to acquire the brand's intellectual propertyUnder the new structure, G-III Apparel Group will manage the global Marc Jacobs operating business (including wholesale and direct-to-consumer), while WHP Global will oversee the brand...