LVMH sells 112-year-old fashion house Patou to Indian businessman Dilesh Mehta

LVMH has sold the Parisian fashion house Patou, founded by French designer and perfumer Jean Patou, to Indian businessman Dilesh Mehta. The sale marks another recent divestment from the LVMH portfolio. Patou has more than 112 years of history as one of France's storied fashion brands.