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Puig buys majority stake in Belgian Dries Van Noten
19
Jun '18
Courtesy: Puig
Courtesy: Puig
Family-owned Spanish fragrance and fashion firm Puig recently acquired a majority stake in Belgian fashion label Dries Van Noten. Puig will be the majority owner and Dries will be a significant minority shareholder over the long term, the companies said in a joint statement. Dries Van Noten will continue as chief creative officer and chairman of the board.

At present, about 90 per cent of Puig’s €1.94 billion business comes from fragrance and cosmetics. The Dries deal may indicate a deeper push into fashion for the brand, according to European media reports.

The Puig fashion portfolio includes Carolina Herrera, Jean Paul Gaultier, Nina Ricci and Paco Rabanne. In 2011, Puig took a majority stake in Jean Paul Gaultier.

Van Noten, who belongs to a family of tailors and is a graduate of Antwerp’s Royal Academy of Fine Arts, launched his label with men’s wear in 1986. He has boutiques in cities like Hong Kong, Tokyo, Paris and Seoul. (DS)

Fibre2Fashion News Desk – India


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