Marc Jacobs is significantly deepening its retail and commercial presence in Greater China, marking a major milestone in the American fashion label’s global expansion strategy under its new ownership.
WHP Global and G-III Apparel Group Ltd. have forged a strategic partnership with I.T Group, a leading omnichannel fashion retailer in Greater China. The collaboration is designed to accelerate the growth of the Marc Jacobs brand across mainland China, Hong Kong, Macao, and Taiwan. The expansion plan encompasses the rollout of new stand-alone boutiques, specialized shop-in-shop locations, enhanced digital commerce channels, and broadened wholesale distribution, all intended to build seamlessly upon the brand’s existing retail footprint in the region.
Sham Car Wai, founder and chairman of I.T Group, emphasized the strong alignment between the brand and the region’s dynamic consumer base. “Marc Jacobs has a distinctive creative identity and strong appeal among consumers in Greater China,” Wai said. “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.”
Founded in Hong Kong in 1988, I.T Group commands an extensive retail network comprising more than 280 points of sale, alongside a rapidly growing e-commerce platform across Greater China. The company operates multiple highly recognized retail concepts, including I.T, i.t, and EXI.T. Its comprehensive digital platform features an expansive curation of more than 400 designer, contemporary, and streetwear labels. Under the leadership of Wai, I.T Group has built a proven, long-term track record of successfully introducing and developing international fashion brands throughout the region. The company’s portfolio of past and present brand development includes prestigious names such as A Bathing Ape, Acne Studios, Carhartt WIP, Comme des Garçons, Off-White, Palm Angels, and Stüssy, providing a robust foundation for supporting Marc Jacobs’ long-term growth.
The partnership represents a key execution phase for the brand’s stakeholders as they look to maximize international potential. Morris Goldfarb, chairman and chief executive officer of G-III Apparel Group, noted the deliberate and localized approach being taken by the ownership group. “We see a strong future for Marc Jacobs and are focused on building the business for the long term,” Goldfarb said. “Our approach is to look at each market individually and put the right capabilities in place to drive the business. I.T Group has a strong track record in Greater China, and we are confident in what we can accomplish together.”
Yehuda Shmidman, founder, chairman, and CEO of WHP Global, echoed these sentiments, highlighting the broader strategic vision for the fashion house. “We refocused on executing our global growth strategy for Marc Jacobs, and our partnership with I.T Group for China is an important milestone,” Shmidman stated. “Marc Jacobs has a distinctive creative identity and strong global recognition, with significant opportunities to expand. This is just the beginning.”
The announcement of the Greater China retail expansion comes closely on the heels of a major management reorganization for Marc Jacobs, which was revealed just last week. Emily George was named global president of the business, effective November 1. Concurrently, Eric Marechalle, who served as the chief executive officer of Marc Jacobs for nine years, is slated to exit his position at the end of the month. While the corporate leadership structure undergoes its evolution, designer Marc Jacobs remains firmly in place as creative director, continuing to guide the overarching creative vision of the brand. However, the business framework in which he operates is undergoing structural shifts aligned with the company’s recent transition in ownership.
These strategic maneuvers follow a landmark corporate acquisition finalized on September 1. LVMH Moët Hennessy Louis Vuitton officially completed its sale of Marc Jacobs to WHP Global and G-III Apparel Group in a transaction valued at approximately $925 million. Under the terms of the joint venture, WHP Global and G-III Apparel Group each own a 50 percent stake in the brand itself. Additionally, G-III acquired the company’s direct operating business—primarily concentrated in the United States and Europe—which includes a retail network of more than 100 stores. WHP leads the overarching joint venture holding the intellectual property and brand assets, while G-III supports the joint venture while directly managing wholesale operations, retail stores, and e-commerce channels.
