(Il Sole 24 Ore Radiocor) - Milano, 15 mag - French luxury group LVMH Moet Hennessy Louis Vuitton said it has signed a definitive agreement to sell its Marc Jacobs brand to the management firm WHP Global.

At the same time, G-III Apparel will join WHP Global in its ownership of the Marc Jacobs brand. G-III will also acquire and operate certain parts of the brand's global direct-to-consumer and wholesale businesses. Together, WHP Global, G-III and Marc Jacobs will accelerate the brand's next phase of growth through WHP Global's licensing platform and G-III's best-in-class operating capabilities.

LVMH gave no financial details, but the Wall Street Journal cited a Security and Exchange Commission filing as showing that the consideration is 850 million dollars, with WHP and G-III splitting it 50/50 at 425 million dollars each.

The transaction is subject to customary closing conditions and is expected to close before year end.

Following the closing of the transaction, Marc Jacobs will continue in his role as founder and creative director, ensuring continuity of the brand's vision, runway collections, and fashion shows.

The brand will become a cornerstone of WHP Global's premium fashion vertical, joining Vera Wang, rag & bone, and G-STAR, further strengthening the company's presence across high-growth global fashion categories.

With the addition of the Marc Jacobs brand, WHP Global will.

surpass 9.5 billion dollars in global retail sales.

(RADIOCOR) 15-05-26 07:59:15 (0082) 5 NNNN