Word: casuals
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...that often it's the outsiders who take the biggest risks and cash the biggest checks. Witness the way Renzo Rosso, once a lowly production manager at Diesel, eventually bought the company and propelled it into a $1.4 billion brand. Similarly, and against the odds, Max Azria transformed California-casual style into the $1 billion business BCBG. At the heart of any fashion deal is talent, and managing creative talent is a business skill all its own. Perhaps one of the most successful examples of that is LVMH boss Bernard Arnault, once an outsider himself. He started off in real...
Except Rosso, of course, who for 20 years has remained singlemindedly focused on the development of the brand and fanatically obsessed with the idea that casual clothing could be fashion's long-term winner. Since he bought out his partners, he has grown Diesel from $7 million to $1.4 billion last year, acquiring the small Belgian designer Martin Margiela in 2002 and signing up manufacturing and distribution agreements with the trendy Milan-based DSquared designers, Dean and Dan Katen. Rumors are rife that additional deals are in the works, specifically acquisitions...
...ready for Chuck Taylors on the red carpet. ELLEN DEGENERES, the comedian and talk-show host known for her casual style, has just been announced as M.C. of Hollywood's most glamorous night, the Oscars. "Ellen completely fits the bill," says the show's producer, Laura Ziskin. By that we assume she means that, like former hosts Billy Crystal and Jon Stewart, DeGeneres is funny and warm and not that, like Crystal and Stewart, she's hardly ever in good movies...
...below the top - down there where people are still striving to make a living, and are still knocked out when they catch a glimpse of Rita Hayworth in a restaurant. The cars they drive, the houses they lived in, the flaky ambitions they harbor are realized with a nice, casual authenticity. (Brody's private eye is a good example; he thinks if he can sensationally crack this case he could become the town's go-to gumshoe, the first guy called when scandal threatens a star.) We're not really in the land of noir here...
Heinz Krogner, Chief Executive of clothing designer and retailer Esprit, is one of the world's great turnaround artists. A decade ago, Esprit was a declining casual-clothing business. But Krogner rebuilt Esprit into one of the fastest-growing apparel retailers. Sales in the past fiscal year, which ended in June, probably topped $3 billion, nearly triple its revenues in 2001. In those five years, Esprit's market value has increased eightfold, to more than $10 billion, roughly on a par with Limited Brands and almost twice the size of Abercrombie & Fitch...