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LUXURY: A NEW GLOBAL PLAYERLUXURY: A NEW GLOBAL PLAYER

In 1981 Carolina Herrera premiered a collection of couture designs, "the most glamorous debut in years" according to the press at the time. Carolina Herrera and the Puig family negotiated an agreement to produce a perfume in 1987. Two years later, Carolina Herrera fragrance became the first truly American perfume introduced by Puig. The fashion division remained the property of José de Armas, a Venezuelan magnate, until Mariano Puig mediated its purchase in 1995.

A short while later Puig negotiated the purchase of Nina Ricci. The company already distributed the label in Spain, and when the opportunity arose to acquire both the perfume and fashion divisions, an arduous negotiation took place. The deal was finalized in 1998, giving the Puig family

control of three important fashion and beauty names: Paco Rabanne and Nina Ricci in Paris, and Carolina Herrera in New York.

No longer just a perfume company, Puig had grown into a global luxury firm. The acquisition of Nina Ricci gave Puig the opportunity to increase the number of its subsidiaries and to transform into a truly international structure. Puig evolved from a Spanish export company with limited international presence to a multinational firm with a global spirit and vision.

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