LVMH Denies Considering a Potential Sale of Marc Jacobs

Dow Jones05-01

By Andrea Figueras

LVMH Moet Hennessy Louis Vuitton denied it was considering a potential sale of its fashion brand Marc Jacobs, following a press report.

"The company strongly denies this," a spokesperson for the company said Tuesday after Bloomberg reported that the French luxury conglomerate was exploring options amid interest from potential buyers, citing people with knowledge of the matter.

The article also said that LVMH hasn't made a final decision and that it could continue growing the business itself.

Marc Jacobs offers ready-to-wear, accessories, perfumes and makeup. The brand is present in 60 countries and employs 1,300 people, according to LVMH's website.

The label is considered luxury, but the price of its products is lower than that of LVMH's key brand, Louis Vuitton.

For 2023, LVMH said Marc Jacobs was among some of its brands in its core fashion and leather-goods division that achieved a remarkable performance, with positive revenue and profit figures.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

April 30, 2024 12:18 ET (16:18 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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