French luxury group LVMH is in talks to sell fashion label Marc Jacobs to potential buyers like Authentic Brands and WHP Global for around $1 billion. The deal, if finalized, would be part of LVMH’s strategy to streamline its brand portfolio. Talks are ongoing and a deal could be imminent.

Marc Jacobs, founded by American designer Marc Jacobs in 1984, is known for its eclectic designs blending high fashion with street style. LVMH had previously explored selling the label in 2024 but denied claims at the time. The potential sale comes as LVMH looks to offload brands like Off-White and Stella McCartney.

Stella McCartney recently repurchased the minority stake held by LVMH in her eponymous brand, focusing on sustainability. In Europe, luxury deals have been making headlines, with Prada acquiring Versace earlier this year. LVMH reported slightly below market sales in the second quarter but saw signs of recovery in the Chinese market.

Analysts are hopeful for LVMH’s future, despite second-quarter results falling slightly short. The company’s shares rose, with potential for growth in the Chinese market. Dealings in the luxury retail sector continue to evolve, with LVMH looking to strategically optimize its brand portfolio.

Read more at Yahoo Finance: LVMH in talks to offload fashion label Marc Jacobs, sources say