Word: gucci
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Profits at Tiffany jumped 34%, to a record $39 million in 1995, even as mass merchants such as Caldor and Jamesway were trooping into bankruptcy court and closing hundreds of stores. Gucci, the once-moribund designer and retailer of fashion apparel, has come roaring back under Bahrain-based Investcorp, which said just last week that it plans to sell its remaining 51% stake in Gucci to the public for some $1.1 billion this year. Investcorp will also sell shares in its resurgent Saks Fifth Avenue chain this year, six years after buying the once-flagging operation...
...lobbyists can raise cash to promote the Contract. What do the lobbyists get in return? Awe-inspiring access to the legislative process, including the right to write the bills themselves, like the one passed last February that imposed a 13-month moratorium on federal regulations. During floor debate, the Gucci set stood close by, typing out on their laptop computers the talking points that Republican leaders would use on the floor. Gingrich's money operation is now purring: during the first six months of this year House Republicans received nearly 60% of the campaign contributions given...
...GUCCI Tough new restrictions on D.C. lobbyists may put a serious dent in loafer sales
...Kirdar was their bridge to the West. He spoke their language, sprang from their culture, yet was Western educated (he has an M.B.A. from New York's Fordham University) and had trained in a big U.S. bank. Kirdar understood his clients' taste in brand names. One reason Investcorp bought Gucci, says an Arab banker, is that "the Arabs wear the shoes." Many were happy to hand millions of dollars to Kirdar with few strings attached...
...Gurwin, a new member of TIME's investigative unit. That dedication is amply displayed in this week's report by Gurwin and Washington correspondent Adam Zagorin on Investcorp, the high-flying and secretive Arab investment boutique that bought Tiffany and Saks Fifth Avenue and engineered the stunning turnaround of Gucci. "Although Gucci is a triumph, many deals have been duds--something few people realize," says Gurwin, who is based in Brussels. "We wanted to take a close look at how Investcorp does business...