
Who needs star designers when you’ve got famous brands? That’s the controversial strategy at PPR’s Gucci Group, where François-Henri Pinault, proud new owner of Puma and soon-to-be Mr. Salma Hayek, is challenging the fashion industry’s most fundamental beliefs. He’s running late for a meeting on the other side of Paris, but something unspeakably ugly stops François-Henri Pinault cold.
“Look at this,†he says, bolting from a leather chair in his office overlooking the city’s eighth arrondissement, as the late-afternoon light falls across the floor. Reaching his massive, nearly bare desk in two graceful strides, he snatches a piece of paper tucked into the corner of his leather-trimmed blotter. It’s a small black-and-white brochure, dense with tiny type.
“This,†he says, dangling the folded sheet between two fingers as if it were a dead rodent, “is what is coming inside a pair of Gucci sunglasses. You open this elegant case, and this is the first thing you see.†The brochure was printed, he concedes, by Gucci’s eyewear licensee—one of only two licensees the company maintains—but still it rankles him.“This cannot go on,†says the C.E.O. of PPR, the $23 billion conglomerate whose luxury unit, the Gucci Group, also includes Yves Saint Laurent, Balenciaga, Bottega Veneta, and other brands. “People have to realize that what we are selling is an experience, from beginning to end.†(Condé Nast)
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