LVMH Assumes Full Ownership of Emilio Pucci
The luxury giant held a majority stake in the Italian brand since 2000, but has now acquired the 33 percent stake still owned by its founding family.
Backstage at Emilio Pucci Autum/Winter 2017.
LVMH has gained full ownership of Italian brand Emilio Pucci, after acquiring the founding family’s remaining 33 percent stake for an undisclosed sum, according to a report by WWD.
Laudomia Pucci, the company’s image director, will step down following the deal, the publication reports.
LVMH has held a majority stake in the brand, which is known for its bold, colourful prints since 2000, but the label remains one of the smallest in its portfolio. The luxury giant is assuming full control after a period in which it’s struggled to find a clear direction.
The house has been without a creative director since Massimo Giorgetti departed in 2017.
Previous designers at Pucci’s helm have included Matthew Williamson, Christian Lacroix and Peter Dundas. Meanwhile it’s undergone a broader executive reorganisation, with chief executive Mauro Grimaldi leaving the company in early 2019 after four years.
More recently, Pucci has experimented with guest collaborators, including Christelle Kocher and Tomotaka Koizumi, in a strategy reminiscent of Moncler’s Genius format. It has also reorganised its business to focus more on resort wear, a core category for the brand, steering its retail footprint towards boutiques in resort hotspots such as Saint Tropez in France, Capri in Italy and Dubai.
Earlier this month, it announced a collaboration with Supreme, featuring sports jerseys, shirts and accessories with prints from the maison’s archives.