Luxury conglomerate offloads American brand as Marc Jacobs remains creative director under new ownership
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LVMH has confirmed the sale of the Marc Jacobs fashion brand to brand management firm WHP Global, according to Business of Fashion. Designer Marc Jacobs will continue as creative director under the new ownership structure. The transaction represents LVMH's strategic decision to divest from the American brand despite its heritage within the luxury group. WHP Global specializes in brand management and development for fashion companies. Financial terms of the deal were not disclosed.