LVMH Moët Hennessy Louis Vuitton stated Friday it now owns 100% of Florentine vogue home Emilio Pucci, having purchased the 33 % stake nonetheless held by the founding household.
Financial phrases weren’t disclosed.
In tandem with the transaction, Laudomia Pucci will relinquish her position as vp and picture director after greater than 20 years in that capability.
She is to dedicate herself to the archives and selling the heritage of her late father, Emilio Pucci, who based the model in 1947, initially designing skiwear out of jersey materials.
“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, stated in a press release. “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.”
LVMH took a 67 % stake in Emilio Pucci SRL in 2000 amid a luxurious acquisition spree in Europe. At the time, the Italian firm had annual gross sales of about $10.5 million.
Considered considered one of Italy’s vogue pioneers in outfitting the jet-set, Emilio Pucci’s colourful, graphic motifs on silk jersey shortly turned the signature of the home and had been initially derived from Renaissance and native Italian artwork.
LVMH stated lately Pucci would return to its roots as a resort-focused model after experimenting with a spread of artistic configurations.
The model lately took the guest-designer route, inviting Christelle Kocher of France and Japan’s Tomo Koizumi for a season. Earlier this month, Pucci revealed a Supreme collaboration that splashed its daring prints on windbreakers, observe pants, hoodies and camp shirts.
There have been quite a lot of everlasting Pucci designers through the years, together with Julio Espada, Christian Lacroix, Matthew Williamson, Peter Dundas and MSGM’s Massimo Giorgetti, in addition to studio configurations.
While boutiques in New York, Milan and Paris had been lately shuttered, it’s understood that gross sales at Pucci boutiques in resort areas have been roaring forward. These embody Saint-Tropez in France, Palm Beach and Miami within the U.S., and Portofino and Capri in Italy. The model can also be common in Russia and the Middle East, the place it boasts boutiques in Dubai and Doha, Qatar.
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