Edited by Lester Brathwaite on
Puig has acquired the majority stake in Jean Paul Gaultier from Hermès, though the designer still retains a 40 percent share in the company.
Gaultier is the most recent addition to the Puig fashion family, which includes Nina Ricci, Carolina Herrera and Paco Rabanne. JPG will step down as president, making room for Manuel Puig (right), so that he can focus his attentions — thankfully — on designing his couture and ready-to-wear collections.
The past few seasons have seen Gaultier in a creative rut, but the designer is happy about the new partnership, saying of the Puigs: “They know what they want to achieve and they are buying Gaultier for Gaultier, not to turn it into something else.” Well, they could at least turn it into a good label again…I’m just sayin’. [WWD]