Hermes sells shares in Jean Paul Gaultier to Spanish group Puig
May 3, 2011: 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, in full agreement with the creator, its entire 45 per cent 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, CEO, Hermès, has declared, “I am delighted with this move for a house that is dear to our heart. I am convinced that the alliance between Jean Paul Gaultier and the Puig family will take the house to new highs”.