Hermes Transfer To Gore Czech Republic

LeMale men's perfume

Not long ago, Hermes, the French luxury group, decided to break up with Jean-Paul Gaultier, a fashion designer, and sold 45% of the fashion company at 16 million euros to Puig, the Spanish fashion group and the seventh largest perfume maker in the world.

Puig, a family business, makes perfume for Prada (Prada). Its brands include Carolina Herrera Carolina (Herrera), Lena Liz (Nina Ricci) and Parker Labona (Paco Rabanne), which will control Gore's company by acquiring part of the designer's brand share.

Until last year, Jean Paul Gore had been the designer of Hermes dress. He said in his last luxury brand fashion show that he had finished a "love story" with Hermes and was sorry for its end.

Gorte was late. Hermes Jean Luis Dumas, the former chief executive, was widely considered to be the chief designer of the transformation of Hermes from a small French scarf maker to the world's leading luxury brand.

Dumas passed away last year. Gaultier And left Hermes.

Hermes began investing in the designer fashion house in 1999. As part of the long term agreement with Gore. Puig It will also repay 14 million euros of the company's debt, and the equity transfer and debt repayment will bring a total return of 30 million euros for Hermes.

In addition, Puig bought a 15% stake from Gorte, founder and designer Jean Paul Gorte, and eventually Puig owns Gore's 60% stake. Gore maintains the remaining 40% stake.

Puig will gain control of Gorte's main assets, mainly perfume business, with an estimated value of 100 million to 200 million euros. But it takes time to get Gore's perfume.

Gorte's perfume includes its best-selling LeMale men's perfume produced by Beaute Prestige, a perfume manufacturer in Paris, Shiseido, which pays designer salaries every year. The contract is renewed in 2001 and extended to 2016.

Gorte, a famous French designer, enjoys a sacred status in the world fashion industry. However, his company has already lacked operating capital because of its royalty, clothing series and high fashion series.

This French designer is eagerly raising funds to develop his fashion brand and selling his products in emerging markets such as Asia.

According to industry analysts, the sale of Gore Czech Republic is more for the purpose of earning considerable income. Before being attacked by LVMH group's "invasion" and controlled by Bernard Arnott more than 20% of Hermes, Hermes also began to redeploy itself.