LVMH Sells Marc Jacobs Fashion House

The French luxury company LVMH has sold the Marc Jacobs fashion house to a consortium of American companies, WHP Global and G-III Apparel Group. The deal is financed with $850 million and is set to conclude by the end of the year. Marc Jacobs will remain as creative director after the acquisition, while LVMH shifts focus to its higher-priced brands.

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