Company owners, the Della Valle family, report that the move will allow the business to focus on the top end of the market.
The family is planning to spend up to €338 million to buy a 25.5% stake from minority investors and take the family’s share to 90%.
In a statement, the family said: “Through this strategy, we want to position the brands in [the] high end of the luxury market.”
According to the family, the company’s public status would make it more difficult to achieve these goals due to the limitations of listing requirements, such as publishing earnings updates. LVMH Group will continue to hold a 10% stake in the company.
Source: Financial Times