Puig enters into partnership with Jean Paul Gaultier fashion house

By Pooja Kondhia

- Last updated on GMT

Spanish company Puig Beauty and Fashion has entered into the capital structure of the French fashion house Jean Paul Gaultier.

As part of the alliance, Puig is the majority shareholder of the fashion house and Jean-Paul-Gaultier as the reference shareholder will continue to carry the responsibility of creative activities and the image of the company bearing his name.

This will enable the French fashion house to benefit from Puig’s experience with creative brands and the provided support necessary for future development; Jean-Paul-Gaultier has stated being happy with the alliance with the family run company, which has been experiencing strong growth.

Marc Puig, CEO of Puig, states, “Our entrance within the capital structure of this emblematic fashion house reinforces our strategic commitment to strengthening our group’s fashion activity alongside the brands Carolina Herrera, Nina Ricci and Paco Rabanne, and to continuing to develop it in the future.​”

Hermes, Jean Paul Gaultier’s previous partner of the last 12 years, has ceded all interest in the company and Manuel Puig, vice chairman of Puig, will be the new president of the Jean Paul Gaultier fashion house.

Puig, which owns the brands Carolina Herrera, Nina Ricci and Paco Rabanne, and has licences for brands such as Prada, Valentino and Comme des Garcons, reached €1200m in net revenues and €130m in net profits in 2010, with a growth of 22 per cent in sales from the previous year, 2009.

The growth of Puig has been largely derived from the company’s expansion into the international markets, in particular with the rest of Europe and the US, and with its successful sales of the Paco Rabanne brand, especially the One Million fragrances.

Between the years 2005 and 2010, the company’s global market share in the premium fragrance market rose from 3.7 per cent to seven per cent.

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