In a significant move for the fashion industry, French luxury conglomerate LVMH has sold the Marc Jacobs brand for ₹7,090 crore (approximately $850 million) to a joint venture between WHP Global and G-III Apparel Group. This sale ends LVMH's nearly 30-year relationship with the brand, which began in 1997 when Marc Jacobs was appointed as Louis Vuitton's first creative director. Under the new ownership structure, WHP Global will manage the brand's intellectual property and licensing, while G-III will handle global operations. Despite the change in ownership, Marc Jacobs will remain as the Founder and Creative Director, continuing to guide the brand's creative direction. This divestment reflects a broader trend in the luxury market, where conglomerates are streamlining their portfolios to focus on more profitable, heritage brands. LVMH's decision to sell comes amid a multi-year downturn in the luxury sector, prompting a reevaluation of their brand strategies. This sale is part of a larger pattern, as LVMH has previously offloaded other brands like Off-White, signaling a shift in how luxury brands are managed and marketed in today's market.