G-III Apparel Group, Ltd. announced the completion of its acquisition of the Marc Jacobs business from LVMH Moet Hennessy Louis Vuitton Inc. on September 1, 2026. The transaction was structured as a two-step process involving a joint venture and the subsequent purchase of the operating assets.
The company formed MJ Topco, LLC (IPCo), a joint venture between a G-III subsidiary and an affiliate of WHP Global, which acquired the equity of Marc Jacobs Holdings, LLC. Following this acquisition, G-III purchased the operating business through its subsidiaries, while IPCo retained the Marc Jacobs intellectual property.
The acquisition was funded using approximately $500 million in cash on hand and borrowings under the company's revolving credit facility. G-III will operate the business pursuant to a license from IPCo. The initial term of the license agreement is through December 2041, with automatic renewals for successive 5-year periods.
In a related filing, G-III reported results for the second quarter of fiscal 2027. Net sales for the quarter ended July 31, 2026, were $554.1 million, a decrease of 10% from the prior year. Gross margin increased to 45.2% from 40.8% in the same period last year.
Net income for the quarter was $20.2 million, or $0.46 per diluted share, compared to $10.9 million, or $0.25 per diluted share, in the prior year. The company reported cash and cash equivalents of $529.2 million as of the end of the quarter.
G-III provided guidance for fiscal 2027, which does not include the impact of the Marc Jacobs acquisition. The company expects net sales of approximately $2.71 billion, a decrease from the prior year due to the loss of approximately $460 million in sales from Calvin Klein and Tommy Hilfiger products. The company anticipates the acquisition to be slightly dilutive in fiscal 2027.
