LVMH has sold Patou back to Nirvana Investments LLC-FZ, the holding company of Dubai-based entrepreneur and Designer Parfums founder Dilesh Mehta, Nirvana announced on Friday. In 2018, LVMH acquired a majority stake in Patou from Mehta, who retained a 30% ownership interest in the brand, which was founded by Jean Patou in 1914.
“It has been a privilege to build Patou alongside LVMH from its modern relaunch,” Mehta said in a statement. “Together we have helped re-establish a remarkable French maison with a strong creative identity and a solid global foundation. We are incredibly grateful to everyone at LVMH, who believed in this journey from the beginning.”
Before LVMH’s relaunch, the label had been dormant in fashion for 30 years, focusing instead on fragrances. Selected by Sidney Toledano to revive the brand as a fashion label, artistic director Guillaume Henry brought new momentum to the heritage house. It’s understood that the agreement also included LVMH’s right to use the name of Patou’s best-known fragrance, Joy, for a Dior fragrance.
Former Patou CEO Sophie Brocart exited in November 2024 after six years, and Henry departed in February 2026. “This mutual decision will allow Guillaume to fully dedicate himself to other projects, while the maison explores a different format for its future evolution,” the house said in a statement at the time, without elaborating on what the future format for Patou would look like.
The offloading of Patou comes after LVMH sold stablemate Marc Jacobs to WHP Global earlier this year.
“We now look forward to building on that foundation and continuing Patou’s growth with the same long-term vision, respect for its heritage and ambition for the future,” Mehta said.
