Word: fendi
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Dates: during 2000-2009
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...spirits brands, Christian Dior, Givenchy, Celine, Kenzo, Christian Lacroix, Tag Heuer, Dom Perignon, Ebel, two Paris department stores, the DFS duty-free chain and the Sephora perfumery-shops, among other brands. Lately, he has been acquiring new companies at the rate of one a week: Bliss, Hard Candy, Fendi, Pucci, Urban Decay. "We look for hot companies, still small," says Arnault in his accented English, his voice a clipped tenor. "No one can do as much with a hot brand...
With that battle raging, Arnault and De Sole clashed last November in a bidding war for Fendi, the maker of last year's to-die-for handbag, the baguette. Gucci's interest in the company probably forced Arnault to pay $200 million more than he would have otherwise before bagging Fendi for $950 million, a steep price for a firm whose net income last year was $20 million. De Sole insists Arnault overpaid for the company. Arnault, of course, vows to work his magic on Fendi. "It's a hot product with limited exposure," he says. "Perfect for what...