Why Dries Van Noten Sold Majority of His Shares

Designer Dries Van Noten announced on June 14th that he sold a majority of his shares in his business to Spanish-based group Puig. He will remain a”significant minority shareholder “ as well as retain his titles of chief creative officer and chairman of the board.

“I have been searching for a strong partner for the company which I have built for more than 30 years,” Van Noten says. “I am especially happy that Antwerp and my team will remain at the company’s heart and center.”

“As an independent house, Dries Van Noten has, over the years, built an exceptional reputation with its avant-garde fashion collections,” says Puig CEO and Chairman Marc Puig. “Our entry today into the capital structure of Dries Van Notoen proves yet again our strategic commitment to developing the Puig fashion business.”

Written by Karrian

Contributing Editor Intern

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