Word: vuitton
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Dates: during 1980-1989
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...corporate terms, it is the equivalent of a high-society marriage that has unexpectedly turned up in the gossip columns. Moet-Hennessy, the esteemed producer of champagne, Cognac and perfume, agreed in June 1987 to merge with Louis Vuitton, the equally upscale maker of luggage and handbags bearing the distinctive LV trademark. After the deal was signed, the top executives of the two French firms raised champagne glasses to toast their new creation, LVMH Moet Hennessy Louis Vuitton, one of the world's largest luxury-goods conglomerates (projected 1988 revenues: $2.6 billion...
...sooner had the company been formed than a struggle for control broke out between Chairman Alain Chevalier, 56, who had been head of Moet-Hennessy, and Vice Chairman Henry Racamier, 76, former chief executive of Louis Vuitton. At times the dispute has threatened the viability of the merger. "When there is a crisis in marriage," said Chevalier, "either you get divorced or you put the pieces back together...
...sides hope they have found a way to save the marriage. Chevalier and Racamier have agreed to turn control of Moet Vuitton over to a newly formed twelve-member supervisory board consisting mainly of major investors in the company. To run day-to-day operations, the supervisory board will appoint a management committee of up to seven members that will include both Chevalier and Racamier. The old titles of chairman and vice chairman will be done away with, and the two men will have an equal voice in management...
...original merger of the Moet champagne concern with the Hennessy Cognac empire in 1971. Under the reorganization plan, he will continue to represent the interests of the Moet, Hennessy and related families, which together control 20% of the company. Racamier, another former steel executive, will speak for the Vuitton interests, which control 30% of the merged firm. Married to a Vuitton heiress, Racamier led the concern for the previous decade and propelled sales from less than $15 million in 1977 to more than $380 million in 1987. He engineered Vuitton's purchase of Veuve Clicquot champagne and Givenchy perfumes...
Especially since they keep sidling up to promising comic ideas. The incognito Prince meets the street paupers, who immediately steal his vanload of Vuitton luggage. The Prince discovers that even heaps of living cannot convert a slum apartment into a palace. The Prince takes a job as janitor in a fast-food joint and learns that good manners, noble bearing and even heroic action cannot overcome class distinctions. He tries to woo an uncommon commoner (played brightly by Newcomer Shari Headley) without revealing his identity, and encounters resistance from her father, who, since he is Akeem's boss, cannot help...