LVMH Moët Hennessy Louis Vuitton has sold a majority stake in its cruise retail business, including Starboard Cruise Services and Onboard Media, to a consortium led by Jim Gissy of Westgate Resorts. This new joint venture, Global Travel Retail Holdings, sees LVMH retain a minority share. The move reflects a strategic shift for LVMH, which has traditionally kept Starboard low-profile in its portfolio. The change comes after the cruise industry faced challenges during the pandemic and anticipates a decline in new cruise ship capacity. This partnership is expected to rejuvenate Starboard’s position in the cruise retail market, potentially expanding into land-based retail at Westgate’s properties.
About Starboard Cruise Services
Starboard Cruise Services stands as a premier retailer in the cruise industry. Specializing in onboard retail, it provides a unique shopping experience to cruise passengers, offering a wide range of luxury products, including fashion, beauty, jewelry, and spirits. starboardcruise.com
About Onboard Media
Onboard Media is a prominent company specializing in integrated media services for the cruise and travel industries. They offer a range of services including custom publishing, digital solutions, and port shopping programs. onboardmedia.com
About LVMH
LVMH Moët Hennessy Louis Vuitton is a world leader in luxury goods, known for its portfolio of over 70 prestigious brands. The company operates across various sectors including fashion and leather goods, perfumes and cosmetics, watches and jewelry, and wines and spirits. LVMH.com
About Westgate Resorts
Westgate Resorts is a leading timeshare resort company in the United States. Founded by David A. Siegel in 1982, the company specializes in providing luxurious vacation experiences with a wide range of properties located in popular destinations. westgateresorts.com
For more details, you can read the full articles on The Moodie Davitt Report and Forbes.