WWD’s day in quotes from today’s edition.
“One of his very dear friends, two weeks ago, was trying to take the toys he was playing with and try to create some sort of structure. And my son, I would never guess is capable of this, said, ‘You’re just like Putin. It doesn’t belong to you — it’s my toy. And I was like, ‘Score.’” — U.S. Ambassador to the UN Samatha Power, attending Fortune’s Most Powerful Women dinner.
“The cash sitting on the sidelines is huge, and it needs to be deployed in some type of investment. You can’t leave it in the bank earning a quarter of a point.…Technology has become more capital-efficient, and the venture capital firms focused heavily on technology and enterprise software have to exit now so they’re pushing the IPOs out. The valuations are going up, even if you wonder how, in some cases, a company of 30 people is worth $19 billion.” — venture capitalist David Freschman on the proliferation of Tech IPOS.
“We have quite a few aces up our sleeve and great opportunities. We are still not heavily present in Asia; our markets are well-balanced, so that if there are problems in certain areas, we can shift our focus. We have a huge potential in the accessories and footwear category, which has not really been tapped yet.” — co-chief executive officer of OTB SpA Riccardo Stilli on confidence in growth even among the impact of currency fluctuations.
“It is true that the integration has not been successful. We were scared that the company culture was so different, and we didn’t want to destroy its value.” — Jean-Paul Agon, chairman of L’Oreal, fielding tough questions from shareholders about the acquisition of The Body Shop.
“There’s a situation of uncertainty; there is a fear that after Western sanctions there could be sanctions on the Russian side.” — Duccio Campagnoli, president of BolognaFiere and Cosmoprof, on uncertainty in Russia impacting the beauty industry.
“I’m the oldest person here, I think. Part of me is a little bitter that it’s getting more accessible in America because it’s been my secret go-to. It’s so funny how I’m vacillating about buying something that’s $100. It’s the coolest $195 pants I’ve seen in a long time, but this is a hard place to try on clothes. We are shoulder to shoulder. The only way I can try on something is if someone doesn’t mind me mooning them.” — Cameron Silver, the owner of Decades, at a party heralding Swedish retailer COS opening in L.A.
“Licorice is what makes this special twist.” — Antoine Delgrange, global marketing director, Proctor & Gamble Prestige, on Lacoste’s latest men’s fragrance called Live.
“Following the recent change in management, we are focusing on achieving sales growth through the reinforcement of our product offering at more affordable prices to meet the expectations of our loyal customers. This will have short term financial consequences, but is necessary to ensure the future strength of the Mulberry brand. The group remains profitable and cash generative, giving us the resources to invest for the future.” — Godfrey Davis, Mulberry interim executive chairman, on re-strategizing for growth.
“We’re trying so hard to modernize and bring a youthful energy to the brand. It’s not about in this season, out tomorrow. That’s so important for our customer — she’s not that frivolous.” — Ann Taylor creative director Lisa Axelson on their line for fall.
“It’s one thing in New York…if you don’t go up, you go down, so let’s go yup.” — Julien Farel on his new flagship salon and spa in the Loews Regency Hotel on Park Avenue.
“With Dear Rose, I am creating my story and my daughter’s.” — Chantal Roos on her new line of fragrances.
“He promised he would show up, but with him you never know.” — Thierry Frémaux about the elusive Jean-Luc Godard on returning to the Cannes Film festival.