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 reportedly considering selling Marc Jacobs for approximately $1 billion USD to potential buyers like Authentic Brands, WHP Global, or Bluestar Alliance, a move that aligns with LVMH’s recent divestment of other contemporary labels amidst a “luxury slowdown” and decreasing sales in its Fashion and Leather Goods division.

The Marc Jacobs brand might be coming back to America. Twenty-eight years after Bernard Arnault stepped in to first help support the designer’s brand, LVMH Moët Hennessy Louis Vuitton is said to be working with investment bankers at J.