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Puig Snaps Up Majority Stake in Dries Van Noten

Barcelona-based fashion and fragrance firm Puig has taken a majority stake in Dries Van Noten, the fashion house launched in 1986 by the Belgian designer of the same name.
Puig will be the majority owner alongside Van Noten, who will remain a significant minority shareholder in the long term, the companies said in a statement. The designer will also continue as the brand’s chief creative officer and chairman of the board.
“As an independent house, Dries Van Noten has, over the years, built an exceptional reputation with its avant-garde fashion collections,” said Puig chairman and CEO Marc Puig. “Our entry today into the capital structure of Dries Van Noten proves yet again our strategic commitment to developing the Puig fashion business.”
Third-generation family-owned Puig adds Dries Van Noten to a portfolio of heavy-hitting brands including Jean Paul Gaultier, Carolina Herrera and Nina Ricci.
“I am delighted that we are beginning the next chapter of the Dries Van Noten company and my work as designer alongside Puig, a team I have come to know and a company I have always greatly respected.” Van Noten said. “I am looking forward to their commitment and support. I have been searching for a strong partner for the company,

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Via:: https://footwearnews.com/2018/business/mergers-acquisitions/puig-buys-dries-van-noten-1202573908/