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In 1994, Chanel had a net profit equivalent to €67 million on the sale of €570 million in ready-to-wear clothes and was the most profitable French fashion house. [33] In 1996, Chanel bought gun-makers Holland & Holland, but failed in its attempt to revamp the firm. [9] The swimwear label Eres was also purchased in 1996. [34]
The traditional Balenciaga house was turned into a disruptive fashion house [33] and Yves Saint Laurent hit the 2-billion dollar sales mark in 2019. [34] However, from 2015 to 2022, the group's revenue was essentially driven by Gucci's year-on-year high performance, hitting the 10-billion dollars sales mark in 2022. [35]
Mousse Partners is an investment management firm based in Bermuda that serves as a family office to manage the wealth of Alain and Gérard Wertheimer, the current owners of French luxury fashion house, Chanel.
Last year, François-Henri Pinault, who owns Gucci parent Kering and Puma through his holdings company, Artémis, bought a majority stake in talent management company Creative Artists Agency.
On 12 May 2019, the fashion house Fenty, styled as FEИTY, created by singer Rihanna, was launched by LVMH in Paris. It is the first new fashion house by LVMH in 32 years, and she is the first woman of colour to head a brand under LVMH. [33] [34] On 15 July 2019, LVMH announced a new partnership to further develop the Stella McCartney House. [35]
At one point, Ford was the largest individual shareholder of Gucci stock and options. By 1999, the house, which had been almost insolvent when Ford joined, was valued at more than $4 billion. [27] When Gucci acquired the house of Yves Saint Laurent (YSL) in 1999, Ford was named Creative Director of that label as well. [28]
In 2001, McCartney launched a fashion house under her name, in a joint venture with Gucci Group (now Kering), and presented her first collection in Paris. She now operates 51 freestanding stores in Manhattan's Soho, London's Mayfair, LA's West Hollywood, Paris's Palais Royal, Barcelona's Passeig de Gracia, Milan, Rome, Miami and Houston, among ...
Guccio Giovanbattista Giacinto Dario Maria Gucci (26 March 1881 – 2 January 1953) was an Italian businessman and fashion designer and founder of the fashion house Gucci. Early life [ edit ]