Luxury conglomerate company LVMH, the parenting company to luxury brands including Louis VuMitton, Dior and Givenchy, now fully owns 100 percent of the Italian brand Emilio Pucci. Previously, the luxury giant held a majority stake in Pucci since 2000, but now LVMH has reportedly brought the remaining 33 percent stake still owned by its founding family.
Repreportedly Don Emilio Pucci’s daughter Laudomia Pucci will be stepping down from her role as vice president and image director of the company, after being in the capacity for more than 20 years. She will be continuing to work on archives and promoting her late father’s legacy and heritage work which was founded in the year 1947, initially designing skiwear out of jersey fabrics, according to the terms of tthe agthe agreement, as reported by European fashion media outlets.
LVHM’s group managing director Toni Belloni added that “I would like to thank the Pucci family, and Laudomia in particular, for their friendship and collaboration over the years.”
Earlier LVMH took a 67 percent stake in Emilio Pucci in 2000 amid a luxury acquisition spree in Europe. During that time, Pucci had annual sales of about $10.5 million. Emilio Pucci is considered as one of Italy’s fashion pioneers in outfitting the jet-set, colourful, graphics motifs in silk jersey became the signature of the brand and it’s originated from Renaissance and local Italian ark work.
LVMH said recently, Emilio Pucci would return to its root as a resort-focused after going through a wide range of experiments with creative configurations.