PARIS — Hermès on Friday denied it was interested in buying the remainder of Jean Paul Gaultier.
This story first appeared in the November 10, 2008 issue of WWD. Subscribe Today.
“An eventual acquisition of Jean Paul Gaultier SA by Hermès is not on the agenda,” the French luxury goods house said, quashing market rumors it was readying a bid for the maverick French designer.
Hermès bought 35 percent of Gaultier in 1999. Earlier this year, the company raised its stake in Gaultier to 45 percent.
Hermès said the acquisition of Gaultier could not be “envisioned without the full accord of Jean Paul Gaultier and only if he wised to sell his majority stake in the business.”
Earlier this week, Véronique Gautier, chairman of Hermès Parfums’ supervisory board and managing director of leather goods, was named president at Gaultier, succeeding Christophe Caillaud.