French luxury goods group LVMH is in discussions with multiple buyers to offload its fashion label Marc Jacobs, people familiar with the matter told Reuters on Friday.

LVMH is in talks to sell Marc Jacobs in a deal that could be worth $1bn (£745.5m), the Wall Street Journal has reported.

Paris - LVMH is in discussions to sell its Marc Jacobs brand. The transaction could be worth one billion dollars. The Wall Street Journal reported this on Friday, citing sources close to the matter.