Jean Paul Gaultier's Fashion House Changes Hands
The proudly French fashion house of Jean Paul Gaultier is now in the hands of Spain’s Grupo Puig. The Barcelona-based firm, which controls such labels as Nina Ricci and Paco Rabanne, paid €16 million (appoximately $24 million, at current exchange) for the 45% stake in Gaultier held by Hermès. The designer stepped down from his post as artistic director of womenswear at the luxury goods giant last May.
A press release issued yesterday by Hermès noted that the sale was “made in full agreement with [Gaultier],” in acknowledgement of his “desire to accelerate the deployment of his house and give it a fresh impetus.”
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