Marc Jacobs is significantly furthering its presence in China through a major new strategic partnership. WHP Global and G-III Apparel Group Ltd. have forged a collaboration with I.T Group, a leading omnichannel fashion retailer in Greater China, to accelerate the growth of the Marc Jacobs brand across the region. The initiative will introduce new stand-alone boutiques, shop-in-shop locations, digital commerce, and wholesale distribution, building strategically on the fashion label’s existing retail footprint.
The alliance brings together major international brand management and local retail expertise to capture rising demand for distinctive contemporary fashion. Sham Car Wai, founder and chairman of I.T Group, emphasized the strong alignment between the brand and the regional market.
"Marc Jacobs has a distinctive creative identity and strong appeal among consumers in Greater China," said Sham Car Wai, founder and chairman of I.T Group. "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 with more than 280 points of sale alongside a robust and growing e-commerce platform across Greater China. The company operates multiple distinctive retail concepts, including I.T, i.t, and EXI.T, while its prominent digital platform features a curated selection of more than 400 designer, contemporary, and streetwear labels. Under the leadership of Wai, I.T Group has established a proven track record of introducing, nurturing, and developing international fashion brands throughout the region. Its portfolio of past and present brand development includes renowned names such as A Bathing Ape, Acne Studios, Carhartt WIP, Comme des Garçons, Off-White, Palm Angels, and Stüssy, among others. Through this vast network, I.T Group provides a comprehensive retail and digital platform designed to foster long-term growth across mainland China, Hong Kong, Macao, and Taiwan.
Executives behind the brand’s joint venture ownership also expressed immense confidence in the long-term potential of the Greater China market and the capabilities of their new retail partner.
"We see a strong future for Marc Jacobs and are focused on building the business for the long term," said Morris Goldfarb, chairman and chief executive officer of G-III Apparel Group. "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 regarding the brand’s broader global trajectory. "As we refocused on executing our global growth strategy for Marc Jacobs, our partnership with I.T Group for China is an important milestone," Shmidman said. "Marc Jacobs has a distinctive creative identity and strong global recognition, with significant opportunities to expand. This is just the beginning."
This major expansion announcement in China arrives directly on the heels of a significant management restructuring for the fashion house, which was revealed just last week. Emily George was named global president of the business, officially stepping into the role as of November 1. Concurrently, Eric Marechalle, who served as Marc Jacobs’ chief executive officer for nine years, is exiting his position at the end of this month. Designer Marc Jacobs himself remains firmly in place as creative director, continuing to guide the artistic vision and overall creative direction of the brand. However, the business framework and corporate structure he operates within have begun to shift under the company’s newly established ownership.
The structural changes follow a major acquisition completed earlier in the autumn. On September 1, LVMH Moët Hennessy Louis Vuitton finalized its roughly $925 million sale of Marc Jacobs to WHP Global and G-III Apparel Group. Under the terms of the transaction, WHP Global and G-III Apparel Group each own a 50 percent stake in the brand itself. Additionally, G-III acquired the company’s operating business, which is heavily concentrated in the United States and Europe and encompasses a retail network of more than 100 stores. WHP leads the joint venture that holds the overarching brand intellectual property, while G-III supports the joint venture partnership while actively managing wholesale operations, retail stores, and e-commerce channels.
