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By GlobalDataMulti-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.
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData