Lvmh divests patou to dubai-based designer mehta

Published on 01/08/2026 01:28 in fashion • Mark Smith

Luxury conglomerate LVMH has abruptly sold its stake in the Parisian fashion house, Patou, back to Dubai-based entrepreneur Dilesh Mehta. The move signals a strategic shift within the group and raises questions about the future direction of the heritage brand.

A return to roots, shifting control

The deal, finalized Friday, sees Nirvana Investments LLC-FZ, Mehta’s holding company, regain full ownership of Patou. LVMH initially acquired a majority stake in 2018, a move that followed a 30-year dormancy for the brand, previously focused solely on its fragrance division. This abrupt reversal underscores a recalibration of LVMH’s portfolio, following recent sales like Marc Jacobs.

Guillaume Henry, Patou’s Artistic Director, has stepped down, citing a desire to pursue ‘other projects.’ His tenure, which began following a relaunch spearheaded by Sidney Toledano, brought a renewed focus to the house’s legacy. The agreement also included a licensing arrangement allowing Mehta to utilize the iconic “Joy” fragrance name for a Dior offering – a detail that, while commercially astute, highlights the complex web of relationships within the luxury sector.

A complex exit for lvmh

A complex exit for lvmh

Sophie Brocart, Patou’s former CEO, departed in November 2024, and Henry followed suit in February 2026. The official statement attributed their departures to a ‘mutual decision’ to prioritize individual pursuits, though the specifics of Patou’s future remain shrouded in ambiguity. LVMH’s offloading of Patou follows the sale of Marc Jacobs to WHP Global earlier this year, suggesting a broader trend of streamlining and refocusing investments.

Mehta, however, remains optimistic. ‘We now look forward to building on that foundation and continuing Patou’s growth,’ he stated. ‘This marks the beginning of a new chapter, fuelled by a long-term vision, respect for its heritage, and an ambition for the future.’ The question remains: can Mehta successfully revive Patou, and what new direction will it ultimately take?