New Ceo At Gucci Group

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Gucci Appoints New CEO
From Chunky Monkey to golden horse bits

Wednesday, April 21, 2004

After six months of incorrect speculation by the press, The Gucci Group announced today the appointment of Robert Polet as its new president and chief executive officer. Long-time Gucci leader Domenico De Sole is out at the end of the month and his replacement, though top-notch, is hardly what you’d call a luxury goods guru. In fact, Polet, a 48-year-old Dutch national, comes to the world’s third largest luxury group from the supremely less chic kingdom of packaged goods—specifically, ice cream. As President of Unilever’s Worldwide Ice Cream and Frozen Foods division (a $7.8 billion business with 40 operating companies), he oversaw the development of such products as Europe’s “Cornetto Soft” (soft cone) and American favorites such as Ben & Jerry’s, Breyers, and Klondike.

Serge Weinberg, chairman of Pinault Printemps Redoute, Gucci’s owner, said “We are thrilled about Robert’s appointment. His international background, his broad experience in developing brands, his entrepreneurial and managerial talents and his ability to be both a leader and team player make him an ideal choice to run Gucci Group.”

What would Tom say about a Cornetto guy dripping all over Gucci’s sexy designs?
J.J. MARTIN
 
aaaaaaaahhhhhhhhhhhhhhhhh!!!!!!!!!!!!
the end of fashion lol...............
:woot: finally....
 
This is one part of business culture that I simply don't get. Large corporations from car manufacturers to junk food makers seem to think that manegerial prowess is universal across the economy, that anyone who've been successful in an executive position of any given company, would also excel in similar positions in businesses of a completely different nature. :rolleyes:

This is yet another latest example. :ninja:

Personally I think it is of grave importance for the CEO of a company to be intimately familiar with its product, market, and clientele. That, precisely that, is what makes great CEOs like Domenico de Sole and Rose Marie Bravo the accomplished leaders they are.

Now, I don't want to appear prejudiced against PPR (and Serge Weinberg in particular), but I think this will go down as yet another in a long line of stupid mistakes they've made, the first being the firing and gross underestimation of the vital importance of Dom and Tom.
 
Well, in case any of you still had a doubt that Gucci is all about business and not about fashion, maybe this will dispell them?
 
faust :flower: , I think it's important to make the distinction between the Gucci now, and the Gucci under Dom and Tom.

Gucci under the two of them may still have been more about business than fashion, but to excel in this business you need to have a clear vision about the company's direction and the rules of the industry. Dare I say, they had not made a single mistake that would in any way compromise the ultra-tight image control of the Gucci brand.

PPR, on the other, have already made a handful within a remarkably short time.
 
the PPR strategy would work for any other type of company outside of fashion: generally hiring people with brand-building creditials into a multi-brand enterprise makes sense, however de sole had been with gucci since 1984 -- one of the reasons he did well at gucci was because he has been in the fashion business for so many years -- i think ppr should have stole top management from another luxury conglomerate and gave him large bonuses based on turning around the business...they are trying to cut too many corners here.
 
BTW, Gucci stock is still flat. Obviously investors don't think it's a big deal. Well, we shall see...
 
Originally posted by faust@Apr 21st, 2004 - 10:22 am
BTW, Gucci stock is still flat. Obviously investors don't think it's a big deal. Well, we shall see...
are you kidding me...would you sell gucci stock knowing how well tom ford's last season will sell?
 
Originally posted by mikeijames+Apr 21st, 2004 - 2:37 pm--><div class='quotetop'>QUOTE(mikeijames @ Apr 21st, 2004 - 2:37 pm)</div><div class='quotemain'> <!--QuoteBegin-faust@Apr 21st, 2004 - 10:22 am
BTW, Gucci stock is still flat. Obviously investors don't think it's a big deal. Well, we shall see...
are you kidding me...would you sell gucci stock knowing how well tom ford's last season will sell? [/b][/quote]
yea, but the CEO news have to be factored in the risk...
 
Originally posted by faust@Apr 21st, 2004 - 2:47 pm
yea, but the CEO news have to be factored in the risk...
i would recommend anyone hold on to it for the time being because of the fashion brands, gucci (thanks to tom ford and de sole) has a very strong brand identity. people are still going to be snatching up gucci bags long after the dust has settled from this...it's only when we see what the new designers and execs are doing that we will really know (the new guy may generate income by going on a selling-spree)...
 
yumy :P

may be they will have GG empsoed ice cream that taste likw gucci perfume
 
Originally posted by Spacemiu@Apr 21st, 2004 - 11:53 pm
may be they will have GG empsoed ice cream
:lol: i was thinking the same thing

G shaped choc chips :rolleyes:
 
Originally posted by Acid+Apr 21st, 2004 - 5:28 pm--><div class='quotetop'>QUOTE(Acid @ Apr 21st, 2004 - 5:28 pm)</div><div class='quotemain'> <!--QuoteBegin-Spacemiu@Apr 21st, 2004 - 11:53 pm
may be they will have GG empsoed ice cream
:lol: i was thinking the same thing

G shaped choc chips :rolleyes: [/b][/quote]
:rofl: :shifty:
 
Wow, PPR certainly isn't waiting long to destroy this brand :innocent: . Jeez, I'm happy to know that PPR may just see the day they regret letting Tom and Dom go, but on the other hand, if Gucci goes down the tubes it's sad to think about all the work people put into making it what it is (or was :cry: ). How wonderfully ironic it would be if Gucci made a rapid decline in success and popularity all because the "celebrity" designer and his CEO left. Mabye Serge Winberg will see that celebrity designers aren't such a bad thing.

Odd choice, Mr. Winberg obviously doesn't know fashion, otherwise he would know that fashion and ice cream do not mix.....
 
were tom and dom fired?...i thought they left ...

and seeing this...i don't blame them...sounds like they are trying to take gucci mass-market...that's how the halston label was destroyed...what next...gucci for target?... :ninja:
 
:lol: oh come on guys, this is nothing new in fashion world (turning to outsiders for strategy executive posts) De Sole himself was not 'industry' orientated when he joined Gucci :P

from wwd:

Kirk Palmer, of the search firm bearing his name, noted that when De Sole joined Gucci, “his background was all law. I’m not sure this guy was steeped in the world of luxury, but he evolved into a great leader for positioning a brand and for working in concert with a brilliant design talent. It’s about broader leadership skills.”

just few examples from wwd artcile of today
*the late Henry Racamier, a steel magnate who became the principal architect of Louis Vuitton's early expansion, as a preeminent example
*A success story of an industry outsider doing fashion good is Antonio Belloni, group managing director at LVMH, who came to the French luxury giant after a 22-year career at Procter & Gamble. He is widely credited with restructuring and quickly getting DFS and Sephora back on track and for engineering the strategy that has seen LVMH focus resources on star brands, while tailoring new strategies for each individual business.
*Others include Nina Ricci president Paul Deneve, who came to fashion from Apple computers and Exxon; Michele Scannavini, president of Lancaster, who came from Ferrari and Maserati; Valentino’s Michele Norsa, who came from publishing, and even current Louis Vuitton chief Yves Carcelle, who had previously worked at French bedding maker Descamps
*Stuart Rose, a U.K. fashion industry veteran who serves as chairman of the British Fashion Council, knows this, too. Rose began his career in the Seventies at Marks & Spencer, working 10 years in its food division, after which he held senior posts at fashion and retail groups including Arcadia and Argos
*Benetton has made a practice of hiring executives from outside the fashion world. In March of last year, Benetton named Silvano Cassano as the group’s ceo. He had no previous experience in fashion, having worked at places like American Express in Rome, automobile rental company Hertz and most recently as the head of Fiat’s leasing and financial services units.
*Paul Pressler, who went from Disney to Gap, as another good example of a successful crossover
 

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