LVMH has officially sold its entire stake in the Parisian house Patou to Nirvana Investments, the holding company of British businessman Dilesh Mehta. The transaction, carried out on Friday, July 31, was not disclosed for any amount.
Dilesh Mehta had already been a minority shareholder of the brand since 2018, the year LVMH bought 70% of its capital. By now recovering 100% of Patou, he restores the unity of the brand he had bought ten years after its sale to Procter & Gamble in 2001, mainly for its perfume business and licences.
Persistent losses
When LVMH entered the capital in 2018, the agreement rested on a clear split: Bernard Arnault's group took the majority stake, relaunched the fashion house, recruited Guillaume Henry as artistic director and repositioned the brand under the shortened name Patou. Under his direction, the house grew to reach 100 points of sale worldwide, with openings in Corée du Sud and Japon.
Patou accumulated nearly 24 million euros in net losses between 2021 and 2024, with a net deficit still reaching 7.18 million euros in 2024. The 2025 results have not yet been published. Another sign had already appeared in February: the departure of Guillaume Henry, announced with particularly laconic communication, had surprised part of the industry. His last collection for the house was the autumn 2026 collection.
The return to Designer Parfums
Designer Parfums, a company founded by Dilesh Mehta, notably retains the rights to Joy, the perfume launched in 1930 that remains one of the most famous in the history of perfumery, and develops the house's fragrance portfolio. Fondateur of Nirvana Brands and Designer Parfums, Mehta owns or holds under licence brands such as Ghost, Cerruti 1881, Ariana Grande, Jennifer Lopez and Hawaiian Tropic.
In a statement, Dilesh Mehta praised the work accomplished: « Cela a été un privilège de bâtir Patou aux côtés de LVMH depuis sa relance moderne. Ensemble, nous avons contribué à réimplanter une remarquable maison française dotée d'une forte identité créative et de bases mondiales solides. »
This sale comes as LVMH posted 38.6 billion euros in revenue in the first half, down 3%, while several divisions remain under pressure. Founded in 1912 by Jean Patou, the house was one of the most prestigious in French couture before progressively concentrating its activity on perfumes. Reste to be seen what creative direction Dilesh Mehta will now give the brand, of which he now holds 100% of the capital.
