Shiseido Is Now Attempting to Buy Jean Paul Gaultier

Photo: PIERRE VERDY/AFP/Getty Images/Getty

A few weeks ago, it seemed almost certain that Spanish fashion group Puig would buy Hermès's 45 percent stake in Jean Paul Gaultier and that they had plans to gain control of the company by purchasing more shares from Gaultier himself. But now it appears Puig may have some competition: Japanese cosmetics company Shiseido has teamed up with private equity firm Fung Capital to place a bid. As Gaultier's fragrances make up the most profitable part of the label, it makes sense that a beauty company would show interest in acquiring it. [Drapers]