Puig takes over fashion house Gaultier: statement

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The Spanish firm Puig which controls Nina Ricci and Paco Rabanne has taken over French fashion brand Jean Paul Gaultier, the two said in a statement, after Hermes sold its stake.

Hermes sold its 45 percent stake to the Catalan perfume and cosmetics company while the flamboyant French designer Jean Paul Gaultier himself also sold an unspecified stake.

Gaultier remains a key shareholder and the label's top designer and in charge of its image, the statement said.

© 2011 AFP

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