LVMH Advances $1B Marc Jacobs Sale Talks

LVMH is in advanced talks to sell its US fashion brand Marc Jacobs for about $1 billion, with advisers and investment bankers at J.P. Morgan assisting after interest from buyers such as Authentic Brands Group, WHP Global, and Bluestar Alliance. Authentic Brands Group is considered a leading contender in the negotiations. The potential sale follows LVMH's recent portfolio streamlining efforts and comes amid a reported 22% drop in LVMH earnings in the first half of the year due to macroeconomic factors and shifting consumer behavior. CEO Bernard Arnault has acknowledged the turbulent state of the luxury industry, which has impacted company strategies. The move reflects broader changes in the luxury sector as LVMH adapts to evolving market dynamics. The deal remains subject to ongoing negotiations and final agreement.