G-III Apparel Partners with WHP Global to Form Marc Jacobs Joint Venture
G-III Apparel has entered into a definitive agreement with WHP Global to jointly own the Marc Jacobs brand's intellectual property through a newly formed joint venture. G-III will acquire and manage the global Marc Jacobs operating business, while WHP Global will manage the licensing operations. Founded in 1984, Marc Jacobs is a brand blending high fashion and contemporary design. Marc Jacobs operates a global retail footprint with company-operated stores worldwide and distributes products through its e-commerce platform as well as a network of wholesale partners. G-III and WHP Global will form a 50/50 joint venture that will retain ownership of Marc Jacobs' intellectual property that will be formed contemporaneously with WHP Global's closing of its acquisition of Marc Jacobs. G-III will then acquire the Marc Jacobs operating business from the JV and enter into a long-term licensing agreement. G-III will fund its approximately $500M investment using cash on hand and borrowings under its revolving credit facility. The transaction is expected to be dilutive during the first 12 months after closing, with accretion expected thereafter. Closing is subject to customary conditions, and is expected to occur in G-III's fiscal Q3 of 2027.
