Report: Jean Paul Gaultier Leaving Hermes

Gaultier's accomplished tenure at Hermes has been governed by critical runway acclaim and tremendous profitability, cementing the brand's enviable status as one of the most recession-proof luxury houses. In July, the company released exceptionally positive earnings reports, announcing a 12% increase in second-quarter sales ($607.4 million at current exchange) in the 3 months ending June 30. Leather goods were up 33.4%; ready-to-wear and fashion increased by 12.7%.

Hermes' courtship of Gaultier began in June 1999, when the brand invested $23 million into the designer's eponymous collection for a 35% stake. "I believe," said Hermes' then-CEO Jean-Louis Dumas at the time, "that Gaultier has the capacity to be what Hermès has become."
Gaultier began his career in 1970 with an after-school job at Pierre Cardin, and in 1978, he received financial backing to launch his own line. Gaultier has worked extensively with Hollywood and its starlets, from outfitting Madonna in her 1990 "Blonde Ambition" tour to dressing Marion Cotillard in a pailette-encrusted white gown for the 2008 Oscars, where she took home the Best Actress statue for La Vie en Rose.