After Jean Paul Gaultier, Valentino could be the next acquisition target for PUIG Group
Spanish fragrances and cosmetics giant, PUIG which also owns fashion houses Nina Ricci, Carolina Herrera and Jean Paul Gaultier (acquired from Hermes in 2011), reported a 12% increase in its turnover in 2011, reaching a total of 1,343 billion euros. The group aims to control 10% of the worldwide fragrances market by 2014 and expects 1,4 billion euros in turnover in 2012.
In an interview to Spanish media, Marc Puig, CEO of PUIG Group hinted his company could be interested in Italian house VALENTINO, for which it already produces in licensing its frangrances line. ”The two designers (at Valentino) are doing an excellent job, however, I do not want to make additional comments.