Word: arnault
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Dates: during 2000-2009
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...state of luxury overall, a business that is structured on a pyramid model wherein companies invest in the high-end image of a brand that will generate profits at the lower end of the price spectrum. Lacroix, who launched his label in 1987 with the financial backing of Bernard Arnault, chief of the mighty LVMH Moët Hennessy Louis Vuitton, is a product of a 20-year creative and business cycle that has come crashing down with the recent global financial crisis. Despite his enormous creativity and influence on fashion, Lacroix could never turn a profit. Many...
...York. Among the musts were places like Berthillon on the Ile St. Louis and the bistro Chez Georges. For years I passed that list around like samizdat. The idea of tapping into the experiences of globetrotters inspired this special supplement to TIME. We asked Louis Vuitton's Antoine Arnault to share his favorite destinations (one is Roppongi Hills, Tokyo). Peripatetic tennis star Maria Sharapova emphatically recommended the first-class flights on Emirates for their private rooms and candy. And designer Diane Von Furstenberg shared her inspiration from journeys to exotic locales like Rajasthan and Croatia...
...Barrick from nothing into the world's biggest gold-mining company, invested his own money to start the Montenegro project. But in recent months he has brought in an A list of fellow investors, including former banker Lord Jacob Rothschild and his son Nathan, French luxury-goods magnate Bernard Arnault and Russian mining billionaire Oleg Deripaska...
Perhaps you've heard that tune before? It's the strategy that Bernard Arnault used so brilliantly in creating LVMH out of a bunch of high-end, underachieving fashion labels: share resources, consolidate the back end to cut costs but nourish the brands' creativity, quality and individuality. "They have more money to do better development and make better products," says audiophile Tim Schwartz, 47, of Goodyear, Ariz., who owns $250,000 worth of McIntosh gear. "The company is leaving them alone so Randall can do his thing...
...Arnault: Because China is clearly going to be the number one economic power and it is already full of potential - with lots of population and the buying power increasing by the day. [For LVMH] this is a pioneering country, where we have grown relatively fast with luxury goods and cosmetics, and we are opening new territories for wine and spirits...