Puig Acquires Jean Paul Gaultier

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Sold! Puig acquires Jean Paul Gaultier.

Jean Paul Gaultier is officially bidding farewell to the Hermès family—and saying hello to Spanish fashion group Puig.

Women’s Wear Daily has confirmed that Hermès International has sold its 45 percent stake in Jean Paul Gaultier (the designer's run as Hermès designer ended last year), with Puig acquiring that 45 and about 15 percent formerly owned by Gaultier, which makes Puig the controlling owner of the company. Rumors of the acquisition have swirled since early April, though the deal was reportedly finalized on May 3.

Jean Paul Gaultier joins Puig’s other fashion houses, Nina Ricci, Carolina Herrera, and Paco Rabanne.

“I am thrilled,” Gaultier told WWD. “They’re nice people; they have a lot of energy. It’s a family business. They know what they want to achieve and they are taking Gaultier for Gaultier.”

Manuel Puig will take on the title of president at Jean Paul Gaultier—he’s currently the vice chairman of Puig and the president of Nina Ricci—while Gaultier focuses on designing ready-to-wear and couture and working on a new men’s scent that will reportedly launch during couture week in July.

And see which iconic designer is selling his namesake brand.