LVMH Sells Patou to Dilesh Mehta’s Nirvana Investments

Aug 4, 2026 - 20:00

On July 31, French luxury group LVMH Moët Hennessy Louis Vuitton sold Patou to beauty entrepreneur Dilesh Mehta.

Nirvana Investments LLC-FZ, Mehta’s holding company, has acquired full ownership of the Parisian fashion house. Financial terms of the transaction were not disclosed.

Summary

LVMH sold Patou to beauty entrepreneur Dilesh Mehta on July 31; his Nirvana Investments now holds full ownership of the Parisian house, on undisclosed terms.
Mehta’s Designer Parfums has been tied to Patou’s fragrance business since 2011; he sold a majority stake to LVMH in 2018 and stayed on as a strategic partner.
Founded in 1914, the house was relaunched under Guillaume Henry (appointed 2018, ready-to-wear relaunch 2019), growing to roughly 100 stockists before the partnership ended in February 2026. No successor has been named.
Revenue rose from about €3.95M in 2021 to €13.76M in 2024, yet the house posted roughly €23.94M in cumulative net losses over four years.

Mehta’s Longstanding Relationship With Patou

Designer Parfums, founded by Mehta, has been involved with the Jean Patou brand and its fragrance business since 2011.

In 2018, Mehta sold a majority stake in Patou to LVMH. Under the resulting ownership structure, LVMH led the house’s day-to-day operations and fashion relaunch, while Mehta remained involved as a minority shareholder and strategic partner.

Through the latest transaction, Nirvana Investments has acquired LVMH’s stake and become Patou’s sole owner.

“It has been a privilege to build Patou alongside LVMH since its modern relaunch. Together, we have helped to re-establish a remarkable French fashion house with a strong creative identity and a solid global foundation,” Mehta said in a statement.

“We are incredibly grateful to all the teams at LVMH, who believed in this project from the very beginning. We now look forward to building on this foundation and continuing Patou’s growth with the same long-term vision, respect for its heritage and great ambition for the future.”

Mehta is also the founder of Nirvana Brands and Designer Parfums. His portfolio of owned and licensed fragrance brands includes Ghost, Cerruti 1881, Ariana Grande, Jennifer Lopez and Hawaiian Tropic.

Reviving Patou’s Fashion Business Under Guillaume Henry

Founded in Paris by Jean Patou in 1914, the house became one of the defining names of French couture during the 1920s and 1930s. Its creative history includes designers such as Marc Bohan, Karl Lagerfeld and Christian Lacroix.

After Patou’s fashion business had remained dormant for approximately 30 years, LVMH appointed Guillaume Henry as artistic director in 2018. The house subsequently shortened its name from Jean Patou to Patou and formally relaunched its women’s ready-to-wear business in 2019.

During Henry’s tenure, Patou expanded to approximately 100 stockists worldwide and opened stores in Japan and South Korea. In 2023, it also established a permanent retail presence at Galeries Lafayette Haussmann in Paris following the well-received Patou Market pop-up.

Patou ended its approximately seven-year collaboration with Henry in February 2026. The Fall/Winter 2026 collection, presented in January, marked his final collection for the house. A successor has not yet been announced.

Revenue Growth Accompanied by Continued Losses

According to financial statements filed by Jean Patou SAS, revenue increased from approximately €3.95 million in 2021 to €8.02 million in 2022 and €13.02 million in 2023. Revenue reached approximately €13.76 million in 2024.

The company nevertheless continued to report substantial losses. Net losses totaled approximately €8.86 million in 2021, €2.16 million in 2022, €5.74 million in 2023 and €7.18 million in 2024. Its cumulative net loss over the four-year period reached approximately €23.94 million.

Some activities connected to Patou may have been managed through other LVMH entities, meaning that Jean Patou SAS’s filings may not provide a complete picture of the brand’s overall performance.

Having rebuilt its foundations as a fashion house under LVMH, Patou now enters a new phase under Mehta’s ownership. How the company connects its fashion heritage and global recognition with Mehta’s extensive experience in fragrance and beauty will be central to its next chapter.

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