The race to own Jean Paul Gaultier is not over yet! When reports came out last week announcing Spanish perfumer Puig as the lead contender in the purchase of Hermes' 45 percent stake in the Jean Paul Gaultier label, everyone assumed the sale would be made. Both China's Li & Fung and Italy's Cerruti had been eyeing the shares closely, but believed the asking price from Hermes was too steep. Puig had planned to not only buy out the Hermes shares but obtain a portion of Gaultier's personal shares that are on the market as well.
Now in the latest development, Japanese beauty brand Shisheido has swooped in and made an alliance with private equity firm Fung Capital to make a bid. Why the cosmetics brand would show any interest may seem odd at first, but as Drapers reports, the JPG fragrances make up most of the profit in the luxury label. So the plot thickens
Article Source: Drapers, New York Magazine
Photo Source: Reviewperfumes.com
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