Marc Jacobs Finds a New Home

It's the end of an era — a 29-year-long one. On Thursday, LVMHannounced it had entered into a definitive agreement to sell the Marc Jacobs brand to WHP Global, the firm behind labels including Vera Wang, Rag & Bone and G-Star. G-III Apparel Group will also join WHP Global in ownership of the brand through a newly formed joint venture. Financial terms of the deal were not disclosed.In a statement, Bernard Arnault, chairman and CEO of LVMH, called Jacobs “a designer of rare cr