Word: boussac
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...collection for Dior stuck closely to the house's legacy - and was a smash success. "Saint Laurent has saved France!" read the papers the following day. But with his next collections he strayed further from the Dior traditions, to the consternation of many - especially the house's backer Marcel Boussac. When Saint Laurent was called up for military service, the influential press baron let him go. But the army was no place for a man with Saint Laurent's sensibilities. He ended up in a mental hospital, kept under heavy sedation. Finally, his lover Pierre Bergé secured his release...
...with Arnault's "ferocious" approach in acquiring luxury-goods companies, many of which were family owned, by splitting the opposition--that is, stepping in on the side of one of two disagreeing partners and later eliminating the survivor. He did that in 1985, taking over the bankrupt firm of Boussac, which owned Dior. At the time, he promised to expand Boussac and preserve jobs; instead he shut it down, having extracted the part he wanted...
...Look hired him as an assistant. The young man had been interested since childhood in theatrical costume and set design and was delighted to be apprenticed to Dior. Four years later, when Dior died suddenly of a heart attack, Saint Laurent was chosen by Textile Magnate Marcel Boussac, who owned the couture house, to succeed him. In 1958 he produced a brilliant debut collection that introduced an A-line dress called the trapeze. It was an instantaneous success. The French, who invented the modern concept of a couturier, celebrated in the street. The boy wonder, tall, handsome and painfully...
Moving behind the scenes, the Aga Khan had made a separate bid of $9.3 million to Boussac's receivers for 144 of the stable's horses, as well as $1.3 million for the Murty stock. Arguing that it was in the interest of Boussac's creditors to see the equine assets sold to the highest bidder, a bankruptcy court in Paris overturned the Murty deal, ordered the American to hand back his 56 horses to the receivers and told him to wait with other creditors for the return of his money...
...that they have been under pressure all along to favor the Aga Khan's bid, which was well below what a public auction might have realized. The prince got some first-class mares, Murty says, but still was not satisfied. "He wanted to corner the market on the Boussac mares." The Aga Khan's reponse: "I don't see why I should be heaped with insults just because Murty took a bad business risk." Had Murty "made a more reasonable bid in the beginning, none of this would have happened...