THE WHAT? LVMH has sold French fashion house Patou back to beauty entrepreneur Dilesh Mehta, reversing the majority stake acquisition it completed in 2018.
THE DETAILS The transaction was completed through Mehta’s holding company, Nirvana Investments LLC-FZ, with financial terms remaining undisclosed. Mehta originally sold a majority stake in Patou to LVMH in 2018 and subsequently partnered with the luxury group to relaunch and develop the historic French fashion brand. Through his businesses, Nirvana Brands and Designer Parfums, Mehta manages a portfolio of owned and licensed fragrance brands including Ghost, Cerruti 1881, Ariana Grande, Jennifer Lopez and Hawaiian Tropic, while also distributing brands such as Guy Laroche, Gant, Aigner and Paloma Picasso. Mehta said the acquisition would allow the company to build on the foundations established with LVMH while continuing Patou’s long-term growth and heritage.
THE WHY? The transaction returns Patou to independent ownership under an experienced beauty and fragrance entrepreneur, highlighting continued portfolio optimisation within the luxury sector while positioning the brand for its next phase of growth under dedicated ownership.
Source: WWD
