LVMH is selling fashion house Marc Jacobs, its stake in Fenty Beauty, and wine producer Joseph Phelps to raise billions as demand falters.

In the last 18 months the group divested Off‑White, DFS Greater China and a 49 % stake in Stella McCartney, tightening its portfolio around core brands like Louis Vuitton and Dior.

With free cash flow topping €11 bn, LVMH views the sales as a cost‑management move; the Fenty stake alone could fetch between €1.5 bn and €2.5 bn, while beauty labels Make Up Forever and Fresh are also on the chopping block.

The shift marks a rare downsizing for Arnault, who has built LVMH through acquisitions. Family pressure over a possible Le Parisien sale and a contemplated minority stake in Armani suggest the group is recalibrating its growth strategy, prioritising high‑margin assets over breadth.