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Hermes May Be Selling Jean Paul Gaultier Stake to Puig

>> Puig, the parent company of Carolina Herrera, Nina Ricci, and Paco Rabanne, may soon be adding Jean Paul Gaultier to its portfolio. It has reportedly entered into exclusive negotiations for Hermes International's 45 percent stake in Gaultier and is also said to be purchasing some shares from Gaultier himself, which would give it majority ownership of the French brand. Last year, after a seven year design partnership, Gaultier departed Hermes to focus on his own line, a move reportedly expedited by the 2010 death of former Hermes CEO Jean-Louis Dumas, who had championed the designer. [WWD]

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