LVMH Moët Hennessy Louis Vuitton has agreed to sell Marc Jacobs to brand management firm WHP Global and G-III Apparel Group, marking a significant shift in the luxury conglomerate's fashion portfolio. The deal, announced Thursday, transfers the contemporary luxury brand from one of the world's largest luxury groups to specialized operators.

G-III Apparel Group, which already owns DKNY and Karl Lagerfeld along with multiple fashion licenses, will operate portions of Marc Jacobs' direct-to-consumer and wholesale businesses. This leverages G-III's established infrastructure in managing branded fashion operations and distribution channels.

WHP Global, owner of Vera Wang and rag & bone, expects the acquisition to boost its annual sales by approximately $1 billion, bringing total revenue to $9.5 billion. The company plans to accelerate Marc Jacobs' growth through its licensing platform combined with G-III's operational expertise.

The transaction reflects LVMH's continued focus on premium luxury brands while divesting from labels requiring different operational models. For Marc Jacobs, the sale provides access to specialized brand management that could revitalize the label's growth trajectory in the competitive contemporary market.