The French luxury goods group Moët Hennessy Louis Vuitton (LVMH) has sold the majority of shares in its previous subsidiary Cruise Line Holdings Co. to a group of investors led by US businessman Jim Gissy.
Cruise Line Holdings is the parent company of the Starboard & Onboard Cruise Services divisions, which operate duty-free shops on numerous cruise ships. As part of the “strategic transaction”, which is to be completed in the coming days, LVMH will hold a minority stake in the new company that will be created after the takeover, the group announced on Friday. Financial details were not disclosed.
Lisa Bauer will therefore remain CEO of the cruise retailer even after the change in majority ownership. In the future, your area of responsibility will include continuing the “strong upswing in business after the Covid-19 pandemic” and opening up new business areas, according to a statement. This involves both expansion on cruise ships and additional trading activities in holiday resorts on land.