Spanish group PUIG buys JEAN PAUL GAULTIER

Spanish fragrances and fashion group PUIG has announced the purchase of a 55% stake in French luxury fashion house JEAN PAUL GAULTIER, which had previously been owned by Hermes. The designer and founder of Gaultier holds 45%, maintaining the creative direction of the brand. It seems PUIG’s primary interest has been the fragrances business of Gaultier, LE MALE being the house most successful fragrance, under exclusive licence by Shiseido until 2016.

PUIG Group was founded by the eponymous family in 1914 and is the fifth largest international fragrance producer and distributor with an annual turnover in 2010 of 1,2 billion euros. PUIG also owns luxury fashion brands Nina Ricci, Paco Rabanne and Carolina Herrera.