Puig and the Shiseido Group have entered into negotiations for the acquisition, by Puig, of intellectual property rights on existing Jean Paul Gaultier perfumes and other related assets, for a price of €70m.

 

Family-owned, Barcelona-based Puig will also pay a compensation for the early termination of the license, which was due to end on June 30, 2016, and a potential amount of €20m should certain conditions agreed upon by both parties, aiming to monitor a smooth transition, be met.

 

Shiseido entered into the license agreement for Jean Paul Gaultier Class 3 products in 1993. Since then Beauté Prestige International (owned by Shiseido) has developed and distributed the designer’s fragrances.

 

Jean Paul Gaultier fragrances are distributed in more than 110 countries, with Le Mâle and Classique holding top rankings in several European countries.

 

Puig, which owns Carolina Herrera, Nina Ricci Paco Rabanne among others, became the majority shareholder of the French fashion house of Jean Paul Gaultier in May 2011.

 

As previously reported, earlier this year, Puig acquired the British fragrance house Penhaligon’s and the French perfume house L’Artisan Parfumeur. Puig products are sold in more than 140 countries. Puig’s revenue hit €1.5bn in 2013.

 

Puig’s Patrick Bouchard, Managing Director – Global Travel Retail told TRBusiness (in its Annual Survey) that the company has a ‘clear growth plan for travel retail. “A key part of this is continued investment into two areas; firstly, in consumer insights where we are leading the way in gaining further understanding of consumers in our category, particularly in the BRIC nationalities.

 

“And secondly, investment in retail excellence such as staff, permanent merchandising assets and marketing visibility. We have one of our most active and ambitious launch programmes planned for 2015 and look forward to using these platforms and leveraging our knowledge and expertise to be one of the main fragrance category growth drivers in the travel retail channel.

 

“For Puig, I think 2015 will be a better year than 2014. I see new optimism in Asia as some of the recent challenges ease. I also think that the consolidation within the industry will bring new opportunities for category specialists.”