Word: gucci
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...Gucci designer Frida Giannini says the modern way of fashion marriage works. Gucci CEO Mark Lee chose Giannini for the job, and she says "we have an excellent working relationship. Like the double G of our brand, creativity and management work hand in hand with mutual respect...
Floriane de Saint Pierre, a Paris-based headhunter whose clients include Gucci Group, placed both the CEO of Yves Saint Laurent, Valérie Hermann?who came from rival Christian Dior?and its designer, Stefano Pilati. De Saint Pierre says fashion managers are hard to find because the job is paradoxical. "If management is a science that can be taught, fashion is about culture, so you need to have absorbed all the theory yet have totally surpassed it. Fashion management is about driving a brand with fast-changing products, yet it is also long-term artist management. Managers must...
...conglomerate or luxury group," says Bensoussan. "And then they would lose all their power." And it's good for managers; it gives them something they like. "Freedom!" says Bensoussan, laughing. "If you deliver what you promise, it's a dream world." Working for a conglomerate like Gucci or LVMH has its advantages?access to real estate, saving on advertising. But there are downsides. "Sometimes the smaller companies don't get all the money, all the care, all the love that is needed," he says...
...unlike Gucci Group or any other conglomerate, private-equity firms aren't in the investment for the long haul. Brands bought today will undoubtedly be on the market again in five or so years, sold to another private-equity firm or a luxury conglomerate?or they are taken public. "It's a different approach," says William Cody, a professor in retail and marketing at University of Pennsylvania's Wharton School. "Gucci is looking to build a brand to fold into its business. Private equity is looking to build a brand to sell. They always have an exit strategy...
...moment when trendsetters complain that ultraformatted luxury brands like Dior, Chanel and Gucci are becoming too predictable, Diesel, with its quirky stores and advertising and its outsider chief, is suddenly at center stage, a success story few would have predicted...