Belgian designer Dries Van Noten has announced that Spanish luxury company Puig has taken a majority stake in his namesake label. The deal will see Van Noten become a minority shareholder, as well as continue his roles as Chief Creative Officer and Chairman of the Board.
Since the company was founded in 1986, Dries Van Noten has remained largely independent, meaning this deal marks an important change for the label. Puig operates predominantly in the fashion and perfume industry, and already owns stakes in companies including Jean Paul Gaultier and Paco Rabanne, as well as owning licenses for Prada and COMME des GARÇONS.
In other fashion news, Tomas Maier has left Bottega Veneta.