, Columnist
Marc Jacobs and LVMH Kick Off the Great Luxury Garage Sale
An aughts icon gets a new owner.
Photographer: Daniel Acker/Bloomberg
LVMH Moet Hennessy Louis Vuitton SE has finally sold Marc Jacobs, the brand founded by the eponymous designer, to licensing company WHP Global and G-III Apparel Group Ltd. for about $1 billion.
Parting ways with the Marc Jacobs label, in which LVMH has an 80% stake, represents the end of an era for the luxury group led by Bernard Arnault. LVMH first invested in it in 1997, when Marc Jacobs himself became creative director of Louis Vuitton, the group’s biggest and most profitable brand.