Word: pinault
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...days leading up to his recent Gucci spring 2004 runway show, Tom Ford was distracted. Contract negotiations with Pinault-Printemps-Redoute (PPR), the French retail group that controls Gucci Group, were not going well. But that didn't stop the designer from interrupting a fitting to ask an assistant to dash over to a nearby restaurant with a Polaroid camera. Ford was meeting some journalists there, and he wanted to make sure the restaurant had the right look. When it comes to image, Ford likes to control every detail, right down...
...particular importance." When the bidding was over, No. 9 (White and Black on Wine) had sold for $16.4 million - a record for a Rothko at auction, as Christie's was quick to point out. What Christie's didn't trumpet was the identity of the seller: François Pinault, the self-made French billionaire whose holdings happen to include Christie's itself. The Rothko was in good company. Lot 39 at the same May 14 auction was a "beautiful and mesmerizing" Yves Klein work owned by Pinault that went for $5.3 million. A week earlier, a Degas statue...
...Rive Gauche, a store of less expensive ready-to-wear, on the hip left bank. Bergé meanwhile worked to maximize the Saint Laurent name with fragrances and a variety of licenses. In 1993, the drug company Sanofi acquired the Saint Laurent businesses. And in 1999 François Pinault bought them to sell to Gucci...
...take great pride in their remaking of the company and were horrified when it looked like Arnault--of whom Ford has said, "We could teach [him] a few things about this business"--would capture Gucci. To fend off the raider, the partners brought in self-made French billionaire Francois Pinault, the owner of Christie's auction house and part owner of Converse shoes, who used a controversial clause in Gucci's bylaws to purchase a 42% stake in the firm for $2.9 billion. Arnault insists Gucci's white-knight strategy was illegal, and the battle for the company is still...
...week. And its tarnished image prompted rumors that it might be a takeover target for French financier Bernard Arnault, head of the luxury-goods conglomerate LVMH Moet Hennessy Louis Vuitton. If Arnault acquired Sotheby's, it would afford him yet another confrontation with his archrival, French investor Francois Pinault, who has owned Christie's since...