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LVMH Moët Hennessy Louis Vuitton is said to be in talks to sell the American fashion brand Marc Jacobs in a deal worth around US $ 1 billion, as reported by The Wall Street Journal.
The French luxury group, which historically has rarely sold its signature assets, has been in discussions with financial advisers for the past year evaluating strategic alternatives for the brand. Several possible suitors have expressed interest in the label, among them brand management firms like Authentic Brands Group, Bluestar Alliance, and WHP Global.
Marc Jacobs opened his eponymous company in 1984, developing it into a globally known brand famous for its handbags and clothing. LVMH acquired a majority interest in the firm in 1997 as part of a move into the US fashion sector.
Though divestments by brands are rare for LVMH, the company has acquired selective ones in the past. In 2016, it sold off Donna Karan International business, which owns DKNY, in a transaction valued at US $ 650 million. More recently, it has disposed of stakes in brands such as Off-White and Stella McCartney.
LVMH Chief Financial Officer Cécile Cabanis highlighted the group’s practical strategy for managing its portfolio. She said that they won’t keep brands if they don’t think they are a good strategic match or if they’re not the best operator to manage them.
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