LVMH acquires the rest of Emilio Pucci
From now on, LVMH will have free rein at Emilio Pucci. The French luxury giant, which has owned a 67% stake in the historic couture house founded in Florence in 1947 since 2000, has now taken complete control of the brand. The group has just acquired the remaining 33% of the label, held until now by the house's founding family, particularly Laudomia Pucci, daughter of the brand's founder. Although currently still participating actively in the company, she will be stepping down from her role as vice president and image director in order to dedicate herself to the brand's archives and the promotion of her father's legacy.
The price of the transaction has not been disclosed, but is reported to have been around 12 million euros, according to MF Fashion. The deal, which was first brought to the public's attention by the daily Milan-based news publication, was confirmed to FashionNetwork.com by LVMH.
"I would like to thank the Pucci family, and Laudomia in particular, for their friendship and collaboration over the years. Laudomia has been a precious guardian of the brand, bringing insight, passion and energy to the teams. We look forward to supporting her work on archives and heritage in the future," said LVMH group managing director Toni Belloni in a statement.
Without a creative director since 2017, the Italian house, which is known for its colourful prints mixing psychedelic and vintage motifs, as well as its pieces in silk jersey, has been seeking to relaunch itself for several seasons. Relying on a youthful in-house creative team, the brand has doubled down on collaborations recently, calling on the likes of Christelle Kocher, Tomo Koizumi and Supreme. The label also strengthened its studio last year with the addition of a new head of design boasting an impressive CV, including past roles at MMissoni, Max Mara, Chloé and Nina Ricci, thereby renewing the house's identity.
In parallel, the company also undertook an internal reorganisation process focused on its Milanese HQ, where the brand's creative and commercial management was moved from its historic Florentine address in 2016, as well as on its production site in Castel Maggiore, near Bologna.
Copyright © 2022 FashionNetwork.com All rights reserved.