Fall 2005 Style & Design
So far, he has been quick to slot new executives into key brand
positions, including Valerie Hermann to run Yves Saint Laurent and
Isabelle Guichot as president of Sergio Rossi—both of whom happened to
be his classmates from business school. François-Henri says he is also
eager to rethink the widely accepted luxury- business model—practiced
by Louis Vuitton and Chanel, among others—that bans licenses and
franchising. These kinds of opportunities made designers rich in the
1970s and '80s but became almost dirty words in the 1990s as companies
sought to bring production of nearly all products in-house.
François-Henri argues that it is "unrealistic" to develop young brands
like Alexander McQueen and Stella McCartney on the new model.
"Luxury, when you think about it, is a very young industry where
internationalization took place only in the last 15 years,"
François-Henri says. "This very monolithic vision—imposing the same
collections everywhere in the world in stores that look exactly the
same—was important for establishing the identity of brands. Now it's
time to move to a new phase." He imagines Gucci stores where new
merchandise arrives at least monthly. "It's not a question of imitating
Zara and H&M," he says, referring to the fast-fashion chains. "We must
be more in tune with our consumers' habits."
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