Answers to our Pop Quiz, which covers Valentino, Jean Paul Gaultier, Karl Lagerfeld and more.
Choice (c) is correct. Jean Paul Gaultier recently said, “If there is one place other than Paris that I should like to live, it would be London.” London’s street and club culture have strongly influenced Gaultier: “the street has always been my first source of information.”
Choice (d) is correct. Stefano Sassi, who has been the CEO of Valentino SpA since 2006, recently stated:
“For fashion, it is crucial to have a shareholder that is really looking long-term. Fashion is not a mass market product. It’s about creating a brand, creating a dream, creating a perception…The second fact is that sometimes fashion is about vision. You have a vision, you need to realise that, and you’re blind, in a way. You cannot demonstrate immediately that you are able to do this — and this is, in a way, not exactly the way that private equity works.
Having said that, we worked very well [together]. I think that the relationship we developed with the Permira team, personally, was a very positive one. We trusted each other, we knew we trusted each other, and we were trying to set up a strategy and execute a strategy that was, even within private equity limits, a long-term strategy.”
Choice (b) is correct. In 2013, Chinese consumers spent approximately $80 billion in purchases of personal luxury goods. Of the $80 billion, 1/3 was spent in China, and the remaining 2/3 was spent outside of China, often while traveling abroad.
Choice (c) is correct. Rejina Pyo recently said, “If I wasn’t becoming a fashion designer, I would [want] to be an artist.”
Choice (d) is correct. As BoF’s Colin McDowell reports, Gaultier is on record as having said, “Clothes do not have a gender” and he has done even more than Vivienne Westwood to break down the barriers between the sexes. Gaultier continues, “Men must learn to deal with their fragility” and “the line between masculinity and femininity can be a very troubled one,” before adding, “putting a skirt on a man is not a travesty but putting a bra on him is.”
Choice (d) is correct. PVH recently invested in Karl Lagerfeld B.V., Karl Lagerfeld’s namesake company, just as Fast Retailing, owner of Uniqlo, invested in J Brand.
Choice (c) is correct. Maria Grazia Chiuri and Pierpaolo Piccioli worked directly with Valentino Garavani in the company’s accessories department for over a decade before becoming the brand’s creative directors.
Choice (b) is correct. As the editor of French Vanity Fair, Virginie Mouzat has always said she aims to give fashion “intellectual vision,” which she defines as “creating content that goes beyond just talking about textile and trends — trying to make fashion intelligent, like a symptom, an expression of oneself, of the time. Fashion is a way of thinking; dressing is a way of thinking.”
Choice (a) is correct. Valentino SpA’s 2013 revenue increased 25% from the previous year. In the same time period, the luxury market grew 2%, according to Bain & Company, a consulting firm.
Choice (b) is correct. Christopher Bailey and Angela Ahrendts were the creative and business heads of Burberry, respectively, just as Tom Ford and Domenico De Sole were creative and business heads of Gucci, respectively.
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