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Spanish Puig buys stake in Jean Paul Gaultier fashion house
04 May '11
1 min read
A Shareholder of Jean Paul Gaultier's house since 1999, Hermès has supported its international development.
Acknowledging Mr Jean Paul Gaultier's desire to accelerate the deployment of his house and give it a fresh impetus, Hermès has sold on May 3rd, in full agreement with the creator, all of its 45% stake in the house to the Spanish group Puig.
The selling price of the shares (M€ 16) together with the repayment of the granted loans (M€ 14) will generate an accounting profit of equivalent amount (M€ 30) in 2011.
Mr Patrick Thomas, chief executive officer of Hermès has declared "I am delighted with this move for a house that is deer to our heart. I am convinced that the alliance between Jean Paul Gaultier and the Puig family will take the house to new highs".
Acknowledging Mr Jean Paul Gaultier's desire to accelerate the deployment of his house and give it a fresh impetus, Hermès has sold on May 3rd, in full agreement with the creator, all of its 45% stake in the house to the Spanish group Puig.
The selling price of the shares (M€ 16) together with the repayment of the granted loans (M€ 14) will generate an accounting profit of equivalent amount (M€ 30) in 2011.
Mr Patrick Thomas, chief executive officer of Hermès has declared "I am delighted with this move for a house that is deer to our heart. I am convinced that the alliance between Jean Paul Gaultier and the Puig family will take the house to new highs".
Hermès
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