Word: laurentic
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...more and more fashion houses. In recent years, Yves Saint Laurent, Ungaro and Versace have shuttered their couture operations. Last year, according to analysts' estimates, Lacroix generated about $39 million in sales from its couture, ready-to-wear and licensing businesses--with a loss of $13 million. Those in the designer's inner circle say Lacroix is bitter about the way LVMH'S chairman, Bernard Arnault, handled the sale, although Arnault shows little regret. "For 17 years we have worked to transform the company, and we have not been successful," he says. "It's time to focus on our core...
...finally hit Europe. But price isn't the only weapon. When European shoppers aren't taking the low road, buying $7 blue jeans at Tesco or slippers and bratwurst at Lidl, they're traveling the high road: splurging on organic honey at Britain's Waitrose or Yves Saint Laurent blouses at France's Printemps, stores that have demonstrated an uncanny ability to identify and cater to the nuanced needs of high-end consumers. All of which squeezes out the middle. "There are bipolar developments," says Johanna Waterous, a McKinsey & Co. director, who leads the retail practice in the consulting firm...
...LAURENT VALLEE, fund manager at Richelieu Finance, as Disney predicts its Euro parks will continue to lose money
...leader. With the party's renewed energy has come revived competition for the Socialist candidacy in the 2007 presidential race. Some of Hollande's colleagues in the yes camp - including Strauss-Kahn, former Culture Minister Jack Lang and Paris Mayor Bertrand Delanoë - hanker after the presidency, too. But Laurent Fabius, a former Prime Minister under François Mitterrand in the mid-'80s, is spearheading the no campaign as part of his own presidential bid. He argues that the constitution favors unfettered free markets at the expense of social policy, public service and government intervention. Fabius is appealing...
...Pilati and others are banking on the safari look to be a commercial success. "It certainly used to sell when Saint Laurent did it," says Kal Ruttenstein, senior vice president for fashion direction at Bloomingdale's. "And something has to come after jeans for casual wear. Safari jackets, if they're not too stiff, can look very modern...