G-III Apparel Group will invest 500 million US Dollars in WHP Global whose aggregate retail turnover is above 9.5 billion
Paris-listed LVMH, the extra luxury group that Bernard Arnault founded, said it signed a definitive agreement for selling Marc Jacobs to WHP Global, a licensing and brand monetization and management company that has the support of Oaktree Capital Management and Ares Management (press release). WHP Globalattracted a committed debt financing facility from Morgan Stanley Senior Funding for this acquisition and retained Morgan Stanley and counsel Gibson Dunn.
The closing may take place by the end of 2026. Marc Jacobs will keep his role as the target’s creative director.
NYSE-listed fashion company G-III Apparel Group, a manager of several international brands such as Calvin Klein, Tommy Hilfiger and Karl Lagerfeld, said in a press release that it will sign an even joint with WHP Global venture for handling the Marc Jacobs brand intellectual property ahead of acquiring from the vehicle the global operative business of the target and subscribing a long-term licence agreement. G-III will sign the closing for such a deal by 3Q27 upon receiving the regulatory authorizations.
G-III will finance with its own cash and banking revolving facilities this 500 million US Dollars transaction (one billion US Dollars enterprise value of di Marc Jacobs).
G-III received assistance from financial advisor UBS and law firm Paul Weiss.
Marc Jacobs founded the eponymous company in 1984 with Robert Duffy and sold a controlling stake to LVMH in 1997.
WHP Global already owns premium fashion brands Vera Wang, rag & bone and G-STAR and after the Marc Jacobs buy its global aggregate turnover will be worth more than 9.5 billion US Dollars.
Yehuda Shmidman founded WHP Global in 2019 with the support of Oaktree Capital Management initial investment of 200 millioni US Dollars. The fund provided a further 150 million in 2020 (press release). In 2023, WHP also attracted 375 million US Dollars from NYSE-listed Ares Management on the ground of an enterprise value of 1.6 billion US Dollars (press release). WHP previously acquired Bonobos, Lotto, G-STAR, Vera Wang, and other brands.
Global fashion houses with strong brand recognition and still significant potential for monetisation through licensing, geographical expansion and omnichannel development are of keen interest to big private capital firms.
LVMH sold Marc Jacobs for leaning its portfolio and focusing on core brands with a broader global reach while keeping its focus on ultra-luxury fashion firms.
