LVMH announces joint venture deal for Starboard Cruise Services
Moët Hennessy Louis Vuitton (LVMH) is set to sell some of its shares in its cruise business, including retailer Starboard Cruise Services, to create a joint venture company under the name Global Travel Retail Holdings.
The deal will see LVMH joined by investors including Jim Gissy, who will serve as Chair of the new board, Marcia Rowley, who will be Vice Chair, John Rowley, the family office of David Siegel and Hannaford Investments LLC. The new company will operate both Starboard and Onboard Media, with LVMH remaining as investors in the venture.
Starboard and Onboard Media CEO Lisa Bauer will also serve on the company’s board of directors.