NEW YORK — PPR’s François-Henri Pinault opened up Wednesday about his newest hire Alexander Wang, as well as the looming fiscal cliff, his own’s family’s succession plan, the importance of the American market and e-commerce’s influence on boutique sales.
Considering PPR’s nearly $15.7 billion in revenue, 47,000 employees worldwide and distribution in 120 countries, the group’s outlook is understandably an international one. Even still, in a question-and-answer session at the French Consulate with CBS’ Rebecca Jarvis, Pinault seemed particularly pleased about adding Wang to his roster. After a 15-year stretch with Balenciaga creative director Nicolas Ghesquière, Pinault spoke quite a bit about why Wang was chosen. While PPR never entertained acquiring the 28-year-old designer’s own business, the conglomerate does have great expectations for what Wang will do with the Balenciaga label.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)