Report: LVMH Assumes Full Ownership of Emilio Pucci
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.
