Word: renzo
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...special supplement to TIME magazine, we look at the deals and, more specifically, the dealmakers rocking the luxury business. What's fascinating in creative sectors like 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...
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...
...there were few objections when the upstart manager, Renzo Rosso, announced he wanted to swap out his group shares to become sole owner of Diesel. A modest farmer's son from outside Padua, Italy, with a textiles-trade-school diploma, Rosso, 50, is not your typical luxury-group CEO. Sure, he flies in private jets and frequents fashion shows, but most of the time he wears jeans or sweats, and his curly hairdo is more Peter Frampton than Bernard Arnault...
...neat little exhibition put together by London biographer Peter Ackroyd. Its layout mirrors the capital's: displays on the bridge's east side map the dark, grimy, industrial face; cross to the west side for the regal and religious. TALKS Head to Southwark Cathedral for the "sermon" by Renzo Piano, co-architect of Paris' Pompidou Center, on the grand design for his London Bridge Tower. Dubbed the "Shard of Glass," it should stand as Europe's tallest building when completed in 2010. Then drop in at the Barbican to hear Rem Koolhaas, a fierce critic of skyscrapers...
...across the river during the first renovations to the Fogg Museum’s Quincy Street address in over 50 years. Originally opened in 1927, the Fogg’s Quincy home will close its doors completely during the renovations, which will be led by the internationally-renowned architect Renzo Piano, who designed the Pompidou Center in Paris. Highlights from the Fogg and the Busch-Reisinger collections will be on display at the Sackler Museum during the renovations, which have been in the works for years. “In reality, what we’re doing is a teeny...