Word: vuitton
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Dates: during 1990-1999
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...million in profits last year on turnover of around $460 million, Moet & Chandon, the largest producer, announced last May that 245 employees would be laid off for economic reasons -- the first time in living memory that the industry had shrunk its work force. Then, in June, Moet Hennessy Louis Vuitton, which owns Moet, announced 457 layoffs. An employee backlash has since forced the producers to rethink their cost-cutting strategy, and a regional labor court ruled in August that employees cannot be fired summarily. But the pressure to reduce costs is still...
...thus helps exports. For example, Ford expects the low exchange rate to boost sales of its new right-hand-drive compact, the Probe, which it plans to ship to Japan. A cheap dollar, however, increases inflation because U.S. consumers have to pay more for such foreign goods as Louis Vuitton luggage or Hermes scarves. A declining currency is also seen as a vote of no- confidence by foreign investors in a country's economy -- and in the people managing...
...special-delivery package bulged with sportswear bearing fancy logos like Giorgio, Gucci, Nike and Louis Vuitton. A chic boutique? No, the recipient was the Good Shepherd Center for Homeless Women in Los Angeles. And the merchandise was $1 million worth of counterfeit name-brand T shirts, sweat shirts and running suits seized by lawmen in a sting operation last December. Instead of destroying the phony duds, city attorney James K. Hahn launched an unusual salvage operation.With the O.K. of firms whose names were pirated, the city divided the 43,000 items among eight community-service organizations. "Come winter those things...
...world of luxury, which ranks alongside aerospace as France's primary % export industry, Hermes likes to call itself "a firm apart." It has resisted predatory takeover artists who have swallowed up such venerable family strongholds as Louis Vuitton and Lanvin. It has refused to license its name to sell discount luggage a la Pierre Cardin or mass-produced hosiery a la Christian Dior. But what really makes Hermes different is its stubborn adherence to century-old manufacturing techniques. "Hermes is an anachronism," says Gene Pressman, executive vice president of Barney's, the upscale clothing chain. "It's about quality that...
...modesty -- an effort to get back to the essentials of the good life. It has had only modest success. "This is like Jackie Kennedy's basic black and pearls," says one critic. "The pearls are genuine, the basic black is cashmere, and the accessories are Hermes or Vuitton...