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.
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