Marc Jacobs has landed.

LVMH Moët Hennessy Louis Vuitton completed its roughly $925 million sale of Marc Jacobs to WHP Global and G-III Apparel Group on Tuesday.

WHP and G-III each own 50 percent of the brand, while G-III also bought the company's operating business, which is centered in the U.S. and Europe and includes over 100 stores. WHP will lead the joint venture that holds the brand and G-III will support the JV while running wholesale, retail and e-commerce.

While Jacobs, who founded the company in 1984 with Robert Duffy, remains creative director and will continue to be the face of the brand, it is still a major turning of the page for one of fashion's top brands.

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 Marc Jacobs is a defining name in fashion, with powerful cultural relevance and global growth potential,  said Yehuda Shmidman, founder, chairman and chief executive officer of WHP Global.  We want to thank LVMH for its stewardship of this brand over nearly three decades and for being a trusted partner throughout this process. Together with G-III, we have created a powerful platform that combines best-in-class brand management with exceptional operating expertise. 

Morris Goldfarb, chairman and CEO of G-III, said his company  brings the scale and expertise to build and grow global brands, and we look forward to working with the Marc Jacobs team and WHP Global to protect what makes the brand special while supporting its continued growth worldwide. 

The message there is that Marc Jacobs is still a designer brand albeit with new owners intent on signing new licenses and building the business, for instance by adding more wholesale sales.

LVMH bought the brand in 1997, when the designer was named as the first creative director of Louis Vuitton.

When the deal to sell the business was revealed in May - a rare sale for LVMH - Bernard Arnault, the luxury giant's chief, called Jacobs  a designer of rare creativity and unique vision. 

 His impact on the world of fashion is undeniable, and I want to warmly thank him for his contribution to the success of the maison and the LVMH Group over the last 30 yea

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