LVMH takes full control of Pucci
Image: Collected
Luxury conglomerate company LVMH, the parent company to luxury brands including Louis Vuitton, Dior, and Givenchy, now owns completely of Emilio Pucci. LVMH bought out the remaining 33 percent that was still held by the founding family. Exact information on the transaction were not disclosed.
Per the terms of the offer, Laudomia Pucci, will step down from her role as vice president and image director of the business. She will continue focusing on archives.
“I would like to thank the Pucci family, and Laudomia in particular, for their friendship and collaboration over the years,” Toni Belloni, LVMH’s group managing director, said in a statement. “Laudomia has been a valuable guardian of the brand, bringing insight, passion and energy to the teams. We anticipate supporting her focus on archives and heritage in the future.”
In 2000, LVMH bought a 67 percent stake in Pucci. The brand recently launched a collaboration with Supreme to improve their appeal to Millennial and Gen Z consumers.
Per the terms of the offer, Laudomia Pucci, will step down from her role as vice president and image director of the business. She will continue focusing on archives.
“I would like to thank the Pucci family, and Laudomia in particular, for their friendship and collaboration over the years,” Toni Belloni, LVMH’s group managing director, said in a statement. “Laudomia has been a valuable guardian of the brand, bringing insight, passion and energy to the teams. We anticipate supporting her focus on archives and heritage in the future.”
In 2000, LVMH bought a 67 percent stake in Pucci. The brand recently launched a collaboration with Supreme to improve their appeal to Millennial and Gen Z consumers.
Source: https://fashionunited.uk
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