LVMH takes full control of Pucci

Luxury conglomerate company LVMH, the parent company to luxury brands including Louis Vuitton, Dior, and Givenchy, now owns 100 percent of Emilio Pucci. LVMH bought out the remaining 33 percent that was still held by the founding family. Exact details of the transaction were not disclosed.

Per the terms of the deal, Laudomia Pucci, will step down from her role as vice president and image director of the company. She will continue working on archives.

“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, said in a statement. “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.”

In 2000, LVMH bought a 67 percent stake in Pucci. The brand recently launched a collaboration with Supreme to enhance their appeal to Millennial and Gen Z consumers.