LVMH in Marc Jacobs Sale to WHP Global

Cleary Gottlieb is advising LVMH Moët Hennessy Louis Vuitton (LVMH) on the antitrust and tax aspects of its sale of the Marc Jacobs brand to WHP Global.

G-III Apparel Group Ltd. will join WHP Global in the ownership of the brand and will also acquire and operate certain parts of the Marc Jacobs global direct-to-consumer and wholesale businesses.

LVMH has been a longstanding steward of the Marc Jacobs brand since acquiring a majority stake in 1997. Over the course of this nearly 30-year partnership, the brand has grown into one of the most influential names in fashion, recognized for its distinctive design across handbags, small leather goods, ready-to-wear, footwear, eyewear, and fragrance. Marc Jacobs will become a cornerstone of WHP Global’s premium fashion vertical, joining Vera Wang, rag & bone, and G-STAR.

The transaction is expected to close before year end, subject to customary closing conditions.

The Cleary team advising on U.S. tax matters includes partner Meyer Fedida and associate Michael Eis. The U.S. antitrust team includes partners Dan Culley and Steve Kaiser, and associates Eun Joo Hwang and Aaron Jaslove. The EU antitrust team includes partner Séverine Schrameck and associate Jean Pettiaux.