\n<\/p>\n
Which is perhaps why Jacobs feels his meeting with Goldfarb went a little differently. \u201cI mean, it\u2019s not that he wasn\u2019t excited,\u201d Jacobs says. \u201cHe just seems like a very different personality.\u201d And then, \u201cHe\u2019s just coming from a different place, I think.\u201d<\/p>\n
\u201cI think there\u2019s enough reasonable doubt that says this kind of interference never goes well,\u201d Jacobs says, acknowledging skepticism about the new deal. \u201cFor people who don\u2019t really have all the facts and figures and evidence, I think this just looks like a recipe for something else.\u201d In other words, a licensing business.<\/p>\n
As Shmidman worked through the deal with LVMH, he struck another one with Goldfarb in which they will each own 50 percent of the Marc Jacobs IP. Per public documents, G-III will invest $425 million in the 50-50 joint venture, also acquiring the operating business of the Marc Jacobs brand and managing the license, which in terms of scale means proliferating product. As in: More Marc Jacobs<\/a> coming to a retailer near you.<\/em> He expects the deal to close by October at the latest.<\/p>\n During our conversation, Goldfarb seems attuned to the wariness but prepared with counterpoints. He suggests the successes G-III had scaling Calvin Klein<\/a> and Tommy Hilfiger with their owner, PVH, as a licensor, and their ongoing revamp of Donna Karan as proof of their commitment. \u201cYou\u2019ll find that, uniquely, we have a level of respect for each brand individually,\u201d Goldfarb says of his approach.<\/p>\n He hopes for Jacobs to remain as involved as he\u2019d like to: \u201cThe more he is willing to give, the more we will take,\u201d Goldfarb says. \u201cWe are not the adversary, we\u2019re his partners.\u201d<\/p>\n While Shmidman did not disclose certain details of Jacobs\u2019s new setup, such as his compensation or contract terms, he underscores that Jacobs\u2019s presence is crucial, and that WHP and G-III are inheriting the infrastructure built by LVMH, through which Jacobs remains creative director.<\/p>\n \u201cWe\u2019re the beneficiary of walking into a business that has been owned by LVMH,\u201d Shmidman says. \u201cLVMH is of the highest integrity and certainly brilliant at working with founders, creative talent, fashion designers. Marc is all of the above.\u201d<\/p>\n Goldfarb knows moments of transition can be unnerving. \u201cI think Marc might be a little nervous as to where it goes,\u201d Goldfarb says. \u201cI think if you call Marc back in 18 months, he\u2019s going to say, \u2018This is heaven.\u2019\u2009\u201d<\/p>\n