Puig buys majority stake in Belgian Dries Van Noten

At present, about 90 per cent of Puig’s €1.94 billion business comes from fragrance and cosmetics. The Dries deal may indicate a deeper push into fashion for the brand, according to European media reports.

The Puig fashion portfolio includes Carolina Herrera, Jean Paul Gaultier, Nina Ricci and Paco Rabanne. In 2011, Puig took a majority stake in Jean Paul Gaultier.

Van Noten, who belongs to a family of tailors and is a graduate of Antwerp’s Royal Academy of Fine Arts, launched his label with men’s wear in 1986. He has boutiques in cities like Hong Kong, Tokyo, Paris and Seoul. (DS)

ALCHEMPro News Desk – India