Puig, the Spanish parent company of beauty brands Carolina Herrera, Nina Ricci and Paco Rabanne, could be set to buy fashion house Jean-Paul Gaultier.
The Spanish beauty giant is said to be in exclusive negotiations to buy luxury goods group Hermes’ 45% stake in Gaultier. Puig may take on a majority ownership as it is understood the company will also buy some shares from Gaultier himself who still controls 55% of the business.
It was previously reported that there have been expressions of interest from several buyers and it was said French luxury group PPR, the company behind Gucci, Stella McCartney and Alexander McQueen, could be among the interested parties.
Designer Jean-Paul Gaultier stepped down as director of women’s ready-to-wear at Hermes last October after presenting it’s spring 11 collection last October. Gaultier is however expected to remain at the creative helm of his eponymous label if it is sold.