LVMH Moët Hennessy Louis Vuitton negotiates the sale of the fashion brand Marc Jacobs.
According to informed people, he could bring in around $ 1 billion.
The French luxury goods giant had talks with several parties, including the Reebok owner Authentic, according to the informed people. The Brookstone owner Bluestar Alliance and the Vera Wang mother group WHP Global are also among those interested.
If the talks did not fail, an agreement could soon come, the people said.
LVMH is widely known to boost its growth by taking over, such as when the jeweler Tiffany & Co. take over in 2021. But the company has also proven that it is ready to sell brands if they no longer fit into its strategy. In 2016, the Donna Karan and DKNY group separated for a company value of $ 650 million. LVMH recently sold its participations to Off-White and Stella McCartney.
“We will not keep brands if we believe that they are not a good addition or that we are not the right operator to operate them,” said LVMH CFO Cécile Cabanis on Thursday during the company’s telephone conference.
The fashion brand Marc Jacobs was founded in 1984 by the fashion designer of the same name together with his business partner Robert Duffy. The most popular products in the label include the dead bags and the perfume Marc Jacobs Daisy.
In the post-market tradegate trade, the LVMH share temporarily increases by 5.23 percent to EUR 492.
By Lauren Thomas, Ben Dummett and Suzanne Kapner
Dow Jones
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