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 Bernard Arnault-led company has been discussing deals with multiple parties, including Reebok-owner Authentic Brands, Brookstone-owner Bluestar Alliance and Vera Wang parent WHP Global.

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.