AUSTRALIA: Gucci Acquires Control Of Australian Business
Multi-brand luxury goods company, Gucci, has acquired the remaining 35 per cent stake in Gucci Australia from joint venture partner, F J Benjamin Holdings. No financial details of the transaction were disclosed. Gucci Australia will now operate as a fully owned subsidiary of the Gucci division. President and chief executive officer of the Gucci Group, Domenico De Sole said: "Taking full control of the Australian joint venture reaffirms our commitment to our brands and to the Australian market where we see significant potential for further development.
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