Word: maxed
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...fashion and beauty is that often it's the outsiders who take the biggest risks and cash the biggest checks. Witness the way Renzo Rosso, once a lowly production manager at Diesel, eventually bought the company and propelled it into a $1.4 billion brand. Similarly, and against the odds, Max Azria transformed California-casual style into the $1 billion business BCBG. At the heart of any fashion deal is talent, and managing creative talent is a business skill all its own. Perhaps one of the most successful examples of that is LVMH boss Bernard Arnault, once an outsider himself...
DEALMAKING IS BACK, at least in the $140 billion global luxury business. New money and new faces are changing the playing field. Private-equity firms are shopping for brands. Outsiders like Diesel's CEO Renzo Rosso and BCBG's Max Azria are shaking up the Establishment. Professional managers are reconfiguring the way designers do business. It's no longer just about talent. It's also about numbers, location (India! China!) and risk. It's about leveraging the moment. Here, a look at how fashion's big deals are shaping...
...first disposable razors marketed to women, after World War II. It was only a matter of time before actors realized the potential profits behind being such successful marketing tools for beauty brands, and before long, Judy Garland and Joan Crawford signed on to appear in magazine advertisements for Max Factor in the '30s and '40s. Although Farrah Fawcett sold untold amounts of Wella Balsam conditioner in the '70s and L'Oréal has had a revolving army of actors proclaiming "Because I'm worth it" for four decades, the cachet of the beauty endorsement had been on the wane since...
...SECOND OPINION Despite some setbacks, the Bush Administration's response to 9/11 will prove to be the right one, argues Max Boot (see page...
...ever talk to. Rice and U.S. President George W. Bush are best friends, but the list of people, parties, organizations and countries they won't talk to is endless. It's time they grew up. Danute V. Handy Santa Barbara, California, U.S. Hotel Cells In "Jail breaks" [Aug. 7], Max Wooldridge claimed: "We've heard of office buildings and farmhouses being turned into hotels - but we had never heard of converting prisons." Please send him to Stockholm's Langholmen Hotel, a former prison that was closed in 1975 and then converted into one of Sweden's most "captivating" accommodations...