Word: gucci
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...pooling a number of smaller designer names, the theory goes, licensees can take advantage of manufacturing efficiencies and exert more leverage over retailers, leaving individual designers to do what they do best. But in recent years, fashion powers like Gucci, fearful that broad exposure was killing their cachet, have scaled back licensing. Growing a brand without cheapening it, says Liz Claiborne CEO Paul Charron, "can be a delicate balance. Once you go over that cliff, it's almost irretrievable...
...seems inconceivable that there was a time when Prada and Gucci were considered dull, cheesy or both, but with some effort, it's possible to recall a world in which the distinctive tan-red-white-and-black plaid of Burberry was thought to be appropriate only for the lining of Granddad's raincoat. It was three years ago, to be precise--before Burberry underwent radical image surgery and made a plaid raid on everything from bikinis to bags to little doggy coats and on everyone from Kate Moss to the wife of the British Prime Minister. Now such sensible...
...really that easy? Burberry has had triple-digit growth since it started its makeover, but the creative director who was applying the hipness lift left last month by what the company described as "mutual agreement" and was replaced by a designer from Gucci. The signature plaid has been knocked off more often than a milk bottle at a carnival booth...
...Harvard M.B.A. (He also attended the Fashion Institute of Technology.) He and his thirtysomething former Harvard roommate, Abel Halpern, who is a managing director at Texas Pacific, have added all the right ingredients: a minimalist new store in Berlin and one on its way in Los Angeles (appositely opposite Gucci and Prada, which started this whole thing), editorial wooing and an edgy ad campaign. Oh, yes, and clothes. The Milan runway show in March drew accolades. Don't be surprised if your teenager starts haranguing you to go to "the Bally...
...fogeys aren't going away. LVMH recently bought Pucci; the Gucci group is revamping Bottega Veneta; and no less venerable a jeweler than Asprey & Garrard has hired Jade Jagger (yep, Mick's daughter) and her partner as designers...