I.T Group Takes Over Marc Jacobs’ Greater China Business Under a New Licence

WHP Global and G-III Apparel Group announced on Oct. 26, 2026 a partnership with I.T Group, which has acquired the existing Marc Jacobs operating business in Greater China and holds a new long-term licence to run the brand in the region. The joint announcement was issued from New York through PR Newswire and describes the arrangement as a partnership to accelerate the brand’s growth in the region.

The agreement is the first international licensing deal since WHP Global and G-III completed their acquisition of Marc Jacobs from LVMH on Sept. 1, 2026. The companies did not disclose the value of the China transaction or the length of the licence.

How the Ownership Change Is Structured

LVMH agreed to sell Marc Jacobs in May 2026. In a G-III filing dated May 14, the two buyers said they would form a 50-50 joint venture to hold the brand’s intellectual property. G-III would then acquire the operating business and sign a long-term licence with the venture. The filing put G-III’s investment at about $500 million, funded from cash on hand and its revolving credit facility, and said closing was subject to regulatory approval.

The sale closed on Sept. 1, 2026. A G-III filing of that date says the joint venture was formed at the same time, with WHP Global and G-III each holding 50% of it. WHP Global leads the venture and oversees global brand licensing. G-III acquired the Marc Jacobs operating business at closing, runs its wholesale, retail and e-commerce operations, and provides support services to the venture.

The May filing did not specify which party would be licensor and which licensee. The September filing says G-III entered a long-term license with the joint venture.

The Greater China agreement therefore places the existing regional business and a long-term licence with I.T Group, a Hong Kong-founded retailer. The ownership now divides the brand into three roles: a joint venture holds the intellectual property and the global licensing role, G-III runs the operating business, and a regional retailer takes on one market.

WHP Global describes itself as one of the largest brand management platforms in the world, spanning fashion, sports and hardgoods. It says its brands generate over USD 9.5 billion in annual retail sales across more than 80 countries. G-III owns and licenses more than 30 brands. It owns ten of them, including Marc Jacobs, DKNY, Donna Karan, Karl Lagerfeld, Sonia Rykiel and Vilebrequin, and it licenses more than 20, including Calvin Klein and Tommy Hilfiger.

Closing Date and Structure
A G-III filing dated Sept. 1, 2026 says the Marc Jacobs acquisition closed that day, and that WHP Global and G-III each hold 50% of the joint venture that owns the brand’s intellectual property.

I.T Group’s Regional Business

I.T Group was founded in Hong Kong in 1988. It describes itself as an omnichannel, multi-faceted fashion retailer serving Greater China, and says it operates more than 280 points of sale and a growing eCommerce platform across Mainland China, Hong Kong, Macau and Taiwan. Its retail concepts are I.T, i.t and EXI.T.

The 280 figure covers the whole I.T network rather than Marc Jacobs alone, and the announcement gives no store count for the brand. I.T Group says its digital platform features more than 400 designer, contemporary and streetwear labels.

The company has introduced international brands including A Bathing Ape, Acne Studios, Carhartt WIP, Comme des Garçons, Off-White, Palm Angels and Stussy. It also says it has nearly four decades of experience developing international fashion brands in the region.

Terms, Store Plans and Disclosed Figures

The plans I.T Group named are new standalone boutiques, shop-in-shop locations, digital commerce and wholesale distribution across the region, building on the brand’s existing retail footprint there. No timetable has been announced for any of them, and no opening dates have been given.

The only transaction figure disclosed is G-III’s roughly $500 million investment, set out in the May filing. The October announcement gives no transaction value. The September filing does not state a purchase price for the brand, and the licence term has not been announced.

The Greater China arrangement has two parts: the acquisition of the existing operating business and the new long-term licence. The companies have not disclosed a value for either part.

How the Deal Was Financed and Timed

G-III’s May 14 announcement said the deal is expected to be dilutive for the first 12 months after closing, then accretive. Morgan Stanley Senior Funding, Inc. provided committed debt financing for the acquisition.

The May filing also names the advisers. UBS acted as financial adviser to G-III and Paul, Weiss, Rifkind, Wharton & Garrison as its legal adviser. For WHP Global, Morgan Stanley & Co. LLC was the financial adviser and Gibson Dunn the legal adviser. The filing describes the closing conditions as customary, including regulatory approval.

The May 14 filing expected closing in G-III’s fiscal third quarter of 2027. The Sept. 1, 2026 filing reports that the acquisition and the joint venture closed on that date.

The agreement is the first international licensing deal since WHP Global and G-III completed their acquisition of Marc Jacobs from LVMH.

What the Companies Have Said

Yehuda Shmidman, founder, chairman and chief executive of WHP Global, called the China partnership an important milestone. Shmidman added: “This is just the beginning.”

Sham Kar Wai, founder and chairman of I.T Group, cited the brand’s creative identity and I.T’s omnichannel platform in describing the partnership.

Morris Goldfarb, chairman and chief executive of G-III Apparel Group, said G-III is focused on long-term growth for Marc Jacobs and evaluates each market individually.

What Happens Next

The licence is described as long-term, but its length has not been announced. No opening dates or Marc Jacobs store count for Greater China have been announced.

Marc Jacobs remains Founder and Creative Director. According to a Sept. 4 report by Pulse 2.0, Jacobs keeps responsibility for the brand’s creative vision, including its runway collections and fashion shows.

The September closing announcement framed the change of ownership around expanding the brand’s global reach. For readers following the brand, the points to watch are the timetable for the planned boutiques and shop-in-shops, the licence length, and any store count for Marc Jacobs in the region. None has been announced as of Oct. 27, 2026.