Word: maker
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...runways, though, LVMH behaves like a cost-conscious maker of discount goods. Arnault has reined in expenses and, wherever possible, combined the production of his swank brands to create manufacturing efficiencies. Guerlain and Dior perfumes share plants, for example, as do Loewe and Louis Vuitton leather goods...
Arnault hates to admit it, but he still desperately wants to make Gucci the jewel in the LVMH crown. The leather-goods maker is exactly the type of company Arnault knows how to maximize: a hot name with tightly held licensing and underexploited accessories markets. During the '80s Gucci became an overextended brand synonymous with suburban housewives. Starting in 1994, Gucci's De Sole and Ford began cutting back on licensing while focusing on building up the core fashion and leather-goods businesses. Ford persuaded celebrities like Tom Hanks and Madonna to don Gucci suits, and in just four years...
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...
Take the baby-wipe warmer. Baby wipes have become an indispensable item on changing tables, but the warmer--a plug-in device that keeps the wipes from chilling your baby's bottom--is not. Parents and gift buyers tempted by the $25-$30 product should know that one maker of wipe warmers, Prince Lionheart, recently recalled more than 150,000 of them when parents reported getting electric shocks. Know too that wipes can be warmed between your hands...
Ralph Fiennes (1) was the voice of Jesus in the 1999 animated TV movie The Miracle Maker. He also starred in The English Patient with...