WHP Global has entered into a definitive agreement to acquire the Marc Jacobs brand from LVMH Moët Hennessy Louis Vuitton.
The deal ends nearly three decades of ownership by the French luxury group. WHP, a brand management platform, counts Oaktree Capital Management and Ares Management among its principal backers.
The transaction marks one of the most significant fashion carve-outs of the year and lifts WHP Global past $9.5bn in global retail sales across its portfolio. Marc Jacobs will sit alongside Vera Wang, rag & bone, and G-STAR within the firm’s premium fashion vertical.
Founded by chairman and chief executive Yehuda Shmidman with seed capital from Oaktree, WHP has scaled rapidly through a licensing-led model that monetises consumer brands across geographies and product categories without the operating intensity of vertically integrated ownership. Ares joined the cap table in 2023, providing growth capital that valued WHP at roughly $1.6bn at the time.
The Marc Jacobs acquisition will be executed alongside G-III Apparel Group, which is taking on the brand’s global direct-to-consumer and wholesale operations. WHP will retain the licensing platform, while G-III brings the operating capability, a structure that has become a template for private capital deploying behind heritage fashion houses.
Bernard Arnault, chairman and chief executive of LVMH, said: “Marc Jacobs is a designer of rare creativity and unique vision. His impact on the world of fashion is undeniable, and I want to warmly thank him for his contribution to the success of the Maison and the LVMH Group over the last 30 years. I am confident that this new chapter will offer new avenues of opportunity for Marc Jacobs, that the brand and its designer will continue to inspire customers and creators around the world.”
Marc Jacobs himself will remain as founder and creative director following completion, preserving creative continuity. The designer said: “I am forever grateful to Bernard Arnault for his support, belief and trust in me over the last 30 years. It has been an honor and privilege to work alongside the Arnault Family and LVMH. I remain committed in my role as Creative Director of Marc Jacobs International and look forward to this bright new chapter.”
WHP Global currently operates a portfolio of more than 15 brands generating over $8.5bn in annual retail sales across 80-plus countries, partnering with more than 200 operators worldwide.
The transaction is subject to customary closing conditions and is expected to complete before year end.
Originally published here.