After a surge in popularity in the early 2000s, the fashion house Marc Jacobs is considered to have lost momentum in recent years - and has been seeking a sustainable business model. Now owner LVMH has chosen to sell the company to American WHP Global.
The deal is expected to be completed by the end of the year, and after that, another company, G-III, is expected to join as a partner along with WHP Global.
Designer Marc Jacobs will remain in the role of creative director.
WHP Global owns brands such as Vera Wang and G-Star.
LVMH has had a difficult time. The first quarter of the year saw a price drop of around 28 percent for the company's shares.
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