NEW YORK, United States (AFP) — French luxury giant LVMH will sell its Marc Jacobs brand to United States (US) brand firm WHP Global, the two companies said Thursday.

Marc Jacobs, acquired by LVMH in 1997, will keep the namesake American designer as creative director once the transaction is finalized — expected by the end of the year once necessary regulatory approvals have been obtained.

After a surge in popularity in the early 2000s, the Marc Jacobs fashion house lost momentum and made several strategic shifts to find a viable business model.