Competition for Hermès’ stake in Gaultier intensifies
Puig, Richemont and Fung Capital seek to acquire 45% interest
Hermès has said it has been approached to sell its stake of 45% in the cosmetics and fragrances group Jean-Paul Gaultier. Three candidates are now competing to acquire a substantial interest in the group – the Spanish cosmetics and perfumes company Puig, which controls Paco Rabanne and Nina Ricci, the luxury products group Richemont and Fung Capital, the financial arm of the Fung family interests in China. The balance of Gaultier’s capital – 55% – is held by the investment bank Aforge. Gaultier is understood to want an investor prepared to finance its international development, especially in the Asian marketplace.
