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.

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.

LVMH is working on a sale of its Marc Jacobs fashion brand as the luxury goods giant contends with a slump in demand, according to people familiar with the matter.