LVMH to sell off Marc Jacobs fashion brand
LVMH has agreed to flog fashion brand Marc Jacobs as it slims down amid subdued demand for luxury goods.
The French giant has penned a deal with brand manager WHP Global and G-III Apparel Group.
The joint venture is paying £640m to complete the deal.
Trendy: Fashion model Bella Hadid sports Marc Jacobs
LVMH last month revealed conflict in the Middle East had shaved at least 1 per cent off group sales in the latest quarter, with lower Gulf spending and fewer tourists in Europe adding to the weakness.
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