LVMH considers sale of Marc Jacobs
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Paris - LVMH is in discussions to sell its Marc Jacobs brand. The transaction could be worth one billion dollars. The Wall Street Journal reported this on Friday, citing sources close to the matter.
The French group is discussing with several potential buyers. These include the US groups Authentic Brands Group (ABG), owner of Reebok, and WHP Global, owner of the Vera Wang fashion brand.
LVMH announced a 22 percent drop in its net profit for the first half of the year to 5.7 billion euros on Thursday within a "disrupted economic and geopolitical" context. Its sales fell by 4 percent over the first half to 39.8 billion euros.
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