G-III Apparel Group (GIII) said late Thursday it has struck a deal with WHP Global to jointly own Marc Jacobs brand's intellectual property through a newly formed joint venture.
G-III said it will acquire and manage the Marc Jacobs operating business, while WHP will manage the licensing operations. It expects to close the deal in Q3 of 2027.
The firm said it will fund about $500 million investment using cash and borrowings under its revolving credit facility. Marc Jacobs operates a global retail footprint with company-operated stores.
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