Jean Paul Gaultier in crisis mode

According to several sources, the Spanish group Puig, which owns the brand Jean Paul Gaultier, may be preparing to announce drastic measures to bring an end to the financial drain derived from the famous and boisterous French designer’s company.

The brand’s losses may reach a third of its turnover, which has been reduced, according to reports, to about 15 million euros as compared to 30 million a few years ago.

Among the announcements made today is the end of ready-to-wear. The second menswear line, which has already been designed, will not be manufactured and will thus never be delivered. The fashion house, adds the AFP, will focus on couture, fragrances and other projects. It’s an announcement that comes shortly before the show planned for September 27 at the Grand Rex, during Paris’ fashion week. According to reports, forty or so employees may have their jobs at risk.

The situation has been deteriorating for the past several seasons as the relationship between the designer and his company’s majority shareholder has become more and more strained.

To the informed observer, besides the brand’s fragrances, which have done well, but will not become part of Puig until 2016, the company may be "Lacroix-ized."

The news is grim for those involved and those familiar with the case.

Jean-Paul Leroy et Bruno Joly

Jean Paul Gaultier in crisis mode

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