Hermes Will Sell Jean&Nbsp; Paul&Nbsp; Gaultier

Hermes will sell JPG

As for why Hermes has to become a member of LVMH, Hermes CEO PatrickThomas also explained: "in our circle, some groups are expanding and promoting, and the other part is focusing on and doing professional work. We do not want to be more involved in such business encroachment and annexation. This is not an economic struggle, but also a cultural campaign."

LVMH President Bernard Arnault's reply is the same official as before: "we will never lower the grade of Hermes. As long as Hermes wants to, he will always maintain his status even better."

In addition, the Spanish fashion group Puig has started negotiating with Hermes about the agreement to purchase its Jean Paul Gaultier 45% stake.

Hermes said last week that it would sell shares of Jean Paul Gaultier 45%, but did not disclose any possible buyers.

Puig is a Spanish perfume, cosmetics and fashion multinational company. The company will also buy JPG shares from the designer audience. Of course, the designer still owns the majority stake.

Hermes has bought shares of JPG35% in 1999 and has increased its stake to 45% in 2008.

Gaultier resigned from the creative director of Hermes last year to better develop his clothing and advanced customization series.