Antwerp, Belgium-based Dries Van Noten, a noted clothing design house that has also produced jewelry, has sold a majority stake in its business to Spanish luxury group Puig, a statement said.
Namesake and founder Van Noten (pictured) will retain a “significant” minority stake in the business. He will also continue to serve as the brand’s chief creative officer and chairman of the board. The brand will also continue to be based in Antwerp.
Additional terms of the deal were not disclosed.
Barcelona, Spain–based Puig is a privately owned conglomerate that began a fragrance company and now also owns a number of fashion brands, including Carolina Herrera, Jean Paul Gaultier, Nina Ricci, and Paco Rabanne.
CEO Marc Puig (photo courtesy of Puig)
In a joint statement, Marc Puig the group’s chairman and CEO, said, “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,” Puig added. “Our entry today into the capital structure of Dries Van Noten proves yet again our strategic commitment to developing the Puig fashion business.”
Van Noten said in the statement he was “beyond excited” to have a “strong partner” for his fashion brand, which he first founded in 1986.
“I am looking forward to [Puig’s] commitment and support,” he said. “I am especially happy that Antwerp and my team will remain at the company’s heart and center. Our relationship with our customers is a cherished one and will only benefit from this enhanced vision. Together, we are now ready to realize our dreams.”
Last February, fashion stylist and consultant Juli Alvarez told JCK that Dries Van Noten is one of a number of European brands that has been “accessorizing their runway shows with major statement pieces.”
(Top image courtesy of Dries Van Noten)