BELGIUM/SPAIN. Barcelona fashion and fragrance business Puig has acquired a majority stake in Belgian fashion house Dries Van Noten.
Van Noten will remain a significant minority shareholder for the long-term, said Puig, and will continue as Chief Creative Officer and Chairman of the Board.
Dries Van Noten was founded in Antwerp in 1986. The company designs garments and accessories for men and women.
Puig and Dries Van Noten said they share a common cultural foundation and core values and are each committed to prudent and intuitive growth. “The creation of the partnership follows an exciting period of discussion on shared goals and ambitions during which a special relationship has been forged between the two companies and our teams,” noted both companies.
Puig Chairman and CEO Marc Puig said: “We are beyond excited to partner with Dries Van Noten and his team. We look forward to further developing the Dries Van Noten label, a brand renowned for exceptional creativity. As an independent house, Dries Van Noten has, over the years, built an exceptional reputation with its avant-garde fashion collections.
“Our entry today into the capital structure of Dries Van Noten proves yet again our strategic commitment to developing the Puig fashion business. Today we are proud to welcome Dries Van Noten to our fashion family, alongside Carolina Herrera, Jean Paul Gaultier, Nina Ricci and Paco Rabanne.”
Van Noten added: “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. I am looking forward to their commitment and support. I have been searching for a strong partner for the company which I have built for more than 30 years.
“I am especially happy that Antwerp and my team will remain at the company’s heart and centre. Our relationship with our customers is a cherished one and will only benefit from this enhanced vision. Together, we are now ready to realise our dreams.”