Word: gucci
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...activity is having on a corporation's business. Some Cyveillance findings: Disney and Barbie are among the Top 10 brand names most commonly associated with pornography on the Internet, an abuse of their trademarks; and 4% to 8% of the 7,000 websites selling Rolex watches, Montblanc products and Gucci items actually sold fakes. Now the company has branched out into e-business intelligence, helping clients develop online strategies like locating potential business partners. Last spring the firm got its third--and largest--round of venture funding, $24.5 million from ABS Capital Partners, and is rumored...
...realities have intervened. In February, Andrew Grossman, the man Armani hired 10 months earlier to oversee U.S. operations, was asked to resign. Industry insiders say Grossman's middle-market thinking clashed with Armani's. In March, Matthias Vriens, the creative director Armani hired last July, took a job at Gucci. And then in April, Armani's managing director and key deputy, Giuseppe Brusone, made it known he would be leaving after 15 years with the company. Suddenly the question appeared to be, How will Giorgio get things done...
Armani maintains that the company is on track for a glorious Y2K. Unlike competitors Gucci and Prada, Armani has been spending his cash--some $650 million in 1999--not on acquisitions but on tightening his control over the way his products are made, displayed and sold. Last month he bought two of the Italian factories that produce his signature White Label collection from conglomerate GFT, and he recently established an office in Singapore to run his Asian business. He has also bought back the franchise for his stores in Japan. The new accessories collection should be very lucrative, the company...
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...
...make it work at the high end," he vows. Just now there are more brands to buy, more couture houses to take over and more designers to hire. And don't forget, Arnault will remind you, he still has some unfinished business with a little company called Gucci...