Hermès to Sell Gaultier Stake
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An Hermès store in Paris
Going, going, Gaultier?
Hermès has confirmed it is looking to sell its 45 percent stake in the Jean Paul Gaultier fashion house, the New York Times DealBook blog reports.
The Birkin brand says it has drawn interest from potential buyers but claims it may not necessarily sell its entire stake in Gaultier, which has seen a drop in sales.
A sale would put an end to the long relationship between Hermès and Gaultier, who designed for the Hermès label from 2003 until 2010, when he was replaced by Christophe Lemaire.
Meanwhile, sources say a new buyer could help Gaultier expand in the Asian market—though the French designer is keeping coy for now.
"We are aware that Hermès has been approached, but it is too early to say what will happen," says Gaultier spokeswoman Jelka Music.
Get the full story from the New York Times.
