Jean Paul Gaultier May Soon Be Owned by Puig

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Photo: PIERRE VERDY/AFP/Getty Images

As reported yesterday, Hermès is trying to sell its 45 percent stake in Jean Paul Gaultier's eponymous label, with Spanish fashion group Puig emerging as the most likely buyer. (Previous contenders included Chinese group Li & Fung, who decided that Hermès's asking price was too high and withdrew from the bidding.) Now it appears that Puig is not only after Hermès's Gaultier shares, but is also trying to buy a portion of the 55 percent stake owned by Jean Paul Gaultier (the man himself) so that they can gain control of the company. [Reuters]