Marc Jacobs Plans Growth in Greater China

The new owners of the Marc Jacobs brand have entered a partnership with a Hong Kong-based omnichannel retailer to expand the fashion brand in China. That pact involves WHP Global and G-III Apparel Group Ltd. (both based in New York), which acquired Marc Jacobs in September from LVMH, and the I.T Group (Hong Kong).

The deal calls for I.T Group to acquire the existing Marc Jacobs Greater China operating business while also entering a new long-term licensing agreement for the brand. I.T Group plans to invest in expanding Marc Jacobs’ presence across China through new standalone boutiques, shop-in-shop locations, digital commerce and wholesale distribution, building on the brand’s existing retail footprint.

While Marc Jacobs once had 200-plus stores, today it has roughly half that, mostly in the U.S. and Europe. Specifics on how many stores I.T Group plans in Asia were not disclosed.

“Marc Jacobs has a distinctive creative identity and strong appeal among consumers in Greater China,” said I.T Group Founder and Chairman Sham Kar Wai, whose firm has developed such fashion brands across the region as A Bathing Ape, Acne Studios, Carhartt WIP, Comme des Garçons, Off-White, Palm Angels and Stussy. “With our omnichannel platform, deep local market knowledge and nearly four decades of experience building international fashion brands in the region, we see significant potential to accelerate the brand’s growth through retail expansion and digital commerce, bringing Marc Jacobs to more consumers across Greater China.”

“We are focused on executing our global growth strategy for Marc Jacobs, and our partnership with I.T Group for China is an important milestone,” stated Yehuda Shmidman, Founder, Chairman and CEO of WHP Global, whose owned brand portfolio includes Marc Jacobs, Vera Wang, rag & bone, G-STAR, Joe’s Jeans, Express, Bonobos, Anne Klein, Joseph Abboud, Lands’ End, Toys”R”Us and Lotto. “Marc Jacobs has a distinctive creative identity and strong global recognition, with significant opportunities to expand. This is just the beginning.”