LVMH Moët Hennessy Louis Vuitton is in discussions to sell its U.S. fashion label Marc Jacobs, according to a Wall Street Journal report citing people familiar with the matter. The luxury-goods group is said to be seeking about $1 billion for the brand, which it acquired in stages beginning in the late 1990s. Potential suitors include Authentic Brands Group, the owner of Reebok, along with brand management firms Bluestar Alliance and WHP Global, the report said. Talks are at an early stage and may not result in a transaction, but a deal would represent one of LVMH’s largest divestitures in recent years as the Paris-based company focuses investment on higher-growth labels such as Louis Vuitton, Dior and Tiffany.