document: Hermes in Talks to Sell Stake in Jean-Paul Gaultier Company -LRB- Updates with Les Echos report starting in second paragraph , analyst 's comment in fifth . -RRB- April 1 -LRB- Bloomberg -RRB- - Hermes International SCA , the French maker of Birkin and Kelly bags , is in talks to sell its stake in the Jean-Paul Gaultier fashion house less than a year after the designer relinquished his role at the luxury-goods maker . Hermes received `` an expression of interest from potential buyers '' of the 45 percent holding , the Paris-based company said today in a statement , without elaborating . PPR SA is one candidate that may study the sale of the stake , French daily Les Echos said today , without citing anyone . Gaultier stepped down last year as the artistic director of Hermes 's women 's ready-to-wear unit after seven years in the role and was replaced by Christophe Lemaire . The designer has had a relationship with Hermes since 1999 , when the company bought a 35 percent stake in his fashion house for $ 23 million . The stake was later raised . Hermes may need to raise funds for expansion to help fend off LVMH Moet Hennessy Louis Vuitton SA after its rival acquired a 20 percent stake , according to Armando Branchini , vice - president of Milan-based consulting firm Intercorporate . Gaultier is seeking capital to develop and mandated Aforge Finance to study options , Les Echos said . `` Luxury companies are increasingly focusing on their core business , '' Branchini said . `` Also , because of the attack from LVMH , Hermes needs all the liquidity it can get for store openings and other investments . '' The value of the business would be based mostly on the royalties from Gaultier perfumes , he added . Valuations Valuations of Gaultier 's fashion house vary from several dozens of millions of euros , according to unidentified possible buyers , to several hundred million euros , according to unidentified people close to the founder , Les Echos reported . Hermes fell 5 cents to 154.65 euros at 10:45 a.m. in Paris trading . LVMH disclosed it held an Hermes stake in October . It built its holding without the knowledge of the company 's founding family , which controls more than 70 percent of Hermes . The family shareholders have bolstered their defense against a possible LVMH takeover . Gaultier 's departure from Hermes marked the end of a formal arrangement that began when Jean-Louis Dumas , former president and chief executive officer of Hermes , signed the designer up to bring new blood to the maker of luxury handbags and silk ties . The French couturier is best known for designing the cone bra worn by singer Madonna on her 1990 Blond Ambition tour . Charlotte Judet , a spokeswoman for PPR , did n't immediately return calls seeking comment on the Les Echos report . - With assistance from David Whitehouse in Paris , Thomas Mulier in Geneva and Armorel Kenna in Milan . Editors : Celeste Perri , David Risser To contact the reporter on this story : Paul Jarvis in London at pjarvis@bloomberg.net To contact the editor responsible for this story : Celeste Perri at cperri@bloomberg.net
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