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Take Home Pay

Giorgio Armani may be the richest man in fashion with a net worth estimated at $1.6 billion,andGucci ’s Tom Ford and Domenico De Sole received lucrative stock options in the company worth $29million and $8.3 million,respectively,when they were...

Giorgio Armani may be the richest man in fashion with a net worth estimated at $1.6 billion,andGucci ’s Tom Ford and Domenico De Sole received lucrative stock options in the company worth $29million and $8.3 million,respectively,when they were issued in 2000.Another high roller is JohannRupert,the ceo of Compagnie Financier Richemont AG.Rupert,who has a taste for luxury brandssuch as Cartier and Dunhill,is worth about $1.1 billion.In this list,WWD looked at the compensationof top European fashion executives at public companies.(Giorgio Armani,a private company,does notrelease Armani ’s salary.Gucci and Richemont are not bound to divulge salaries in the markets inwhich they are traded.)Vittorio Tabacchi,chairman of Safilo Group earned $1.7 million in 2000.His2001 salary was not available,so he is not included in the list.Furthermore,European firms do notconsider bonuses as part of a salary.The exception on this list is Luxottica.

1

LUIGI FRANCAVILLA,vice chairman ,co-ceo,Luxottica Group SpA

2001 SALARY:$13.8 million 2000 SALARY:$747,4468

2001 SALES:$3.02 billion 2000 SALES:$2.39 billion

Francavilla cashed in last year with a $13 million bonus for the Sunglass Hut integration.Luxottica,the world ’s largest eyewear manufacturer,owns Lenscrafters. The company also has a virtual lock on the fashion eyewear business,producing specs for Giorgio Armani,Byblos,Chanel,Ungaro,Moschino and Ferragamo.

2

ROBERTO CHEMELLO,co-ceo,Luxottica Group SpA

2001 SALARY:$13.6 million 2000 SALARY:$599,115

2001 SALES:$3.02 billion 2000 SALES:$2.39 billion

Chemello ’s 2001 salary also includes a $13 million bonus for the Sunglass Hut integration.

3

FRANCESCO TRAPANI,ceo,Bulgari Group SpA

2001 SALARY:$3 million 2000 SALARY:$1.8 million

2001 SALES:$757 million 2000 SALES:$668 million

Paolo Bulgari,scion of the luxury jeweler,is worth about $1.2 billion and he ’s been generous with his nephew,ceo Trapani.The bulk of Bulgari revenue comes from watches (42 percent),followed by jewels (36 percent),fragrances (15 percent),royalties (5 percent)and accessories (2 percent).

4

JEAN-LOUIS DUMAS-HERMES,chairman Hermès International

2001 SALARY:$1.75 million 2000 SALARY:N/A

2001 SALES:$1.17 billion 2000 SALES:$1.11 billion

Dumas is a direct descendent f Thierry Hermès,who founded the firm as a maker of saddles for kings and queens.Unlike flashier competitors,Dumas is disciplined and modest.The company has no debt and he claims to stand back and learn from the companies he invests in rather than impose his vision on them.

5

SERGE WEINBERG,chairman,Pinault-Printemps-Redoute

2001 SALARY:$1.7 million SALARY:$1.6 million

2001 SALES:$24.5 billion 2000 SALES:$23 billion

Controlled by French tycoon François Pinault,PPR ’s activities include Gucci Group,Yves Saint Laurent and Printemps department stores.In recent years,Pinault has stepped up the rivalry between PPR and LVMH Moët Hennessy Louis Vuitton,trading lawsuits and salvos with LVMH ’s Bernard Arnault.

6

ROSE MARIE BRAVO,chairwoman,Burberry Group PLC

2001 SALARY:$1.5 million 2000 SALARY:N/A

2001 SALES:$603.5 million 2000 SALES:326.6 million

Under her new contract,which kicked in on May 28,and runs through June 30,2005,Bravo will get 1 percent f the company ’s share of capital,or about $17.4 million.She is also eligible to receive 0.5 percent of company equity in the form of stock options.A bonus,a car and driver and a clothing allowance are also among the perks.

7

LUCIANO BENETTON,chairman,Benetton Group SpA

2001 SALARY:$1.5 million 2000 SALARY:$1.4 million

2001 SALES:$2.07 billion 2000 SALES:$2 billion

The eccentric Luciano Benetton has a history of producing controversial ad campaigns,and he consults a think tank when he wants to make a business move.But there is some method to his madness.Benetton,who founded the firm as a small sweater company in 1955,has a net worth estimated at $4.9 billion.

8

GERHARD WEBER,ceo,Gerry Weber AG

2001 SALARY:$1.3 million 2000 SALARY:$1.2 million

2001 SALES:$391 million 2000 SALES:$333.1 million

There are 400 Gerry Weber shops worldwide.In addition to Germany,where Gerry Weber is based,the company operates stores in Switzerland,Saudi Arabia,combined Arab emirates,the Netherlands,Great Britain,Austria,France and Russia.

9

BERNARD ARNAULT,chairman,LVHM Moët Hennessy Louis Vuitton

2001 SALARY:$1.03 million 2000 SALARY:N/A

2001 SALES:$11.6 billion 2000 SALES:$11.07 billion

Bernard Arnault ’s salary as chairman of LVMH isn ’t earth shattering,but don ’t cry for the French fashion titan.Arnault,whose net worth is about $7 billion,has a reputation as an astute,tough businessman.These days,he has his hands full getting Sephora and DFS back on track and continuing the growth at Christian Dior and Louis Vuitton.

10

UDO HARDIEK,director,Gerry Weber AG

2001 SALARY:$858,056 2000 SALARY:$835,715

2001 SALES:$391 million 2000 SALES:$333.1 million

Catapulted by the success of spokeswoman Steffi Graf in the late Eighties,Gerry Weber entered the stock market in 1989.The company produces five fashion labels.In addition to the signature collection,there is Taifun,Sanook,Court One and Y manis.10

11

INNOCENZO CIPOLLETTA,chairman,Marzotto Group SpA

2001 SALARY:$798,290 2000 SALARY:$201,064

2001 SALES:$1.74 billion 2000 SALES:$2.59 billion

Cipoletta,who runs Marzotto,acquired Valentino from Holding di Participazioni in June.Marzotto controls Hugo Boss and produces licensed collections for Gianfranco Ferré and Missoni.

12

TONINO PERNA,chairman,IT Holding

2001 SALARY:$635,638 2000 SALARY:$611,595

2001 SALES:$618 million 2000 SALES:$427.8 million

Founder Perna is the major shareholder in IT Holding,which produces the Exté collection and owns Romeo Gigli and MAC Malo.The company holds licenses for Gianfranco Ferré Jeans,Roberto Cavalli and Versus Jeans.

13

LEONARDO DEL VECCHIO ,chairman,Luxottica Group SpA

2001 SALARY:$579,067 2000 SALARY:$514,259

2001 SALES:$3.02 billion 2000 SALES:$2.39 billion

A self-made man,Del Vecchio spent time in Milan ’s Martinitt rphanage and later earned pocket money by working for a company that specialized in engraving medals.In 1960,when the Italian economy was on the upswing,Del Vecchio set up shop in Milan,etching glasses for eyewear companies in the Belluno area.

14

WOLFGANG LEY,ceo,Escada AG

2001 SALARY:$414,340 2000 SALARY:$414,340

2001 SALES:(Year ended October):$808 million 2000 SALES:$774 million

Ley has been trying to update Escada ’s image.His first move was hiring Brian Rennie as head designer in the late Nineties.Last year,an advertising campaign shot by Albert Watson in black and white —a departure for the color-drenched company —upped the ante with overtly sexy images.

15

DIEGO DELLA VALLE,chairman,Tod ’s SpA

2001 SALARY:$354,875 2000 SALARY:$102,583

2001 SALES:$314.7 million 2000 SALES:$248.8 million

In November 2000,Della Valle listed 7,562,500 shares f Tod ’s on the Italian bourse,about 25 percent.The Della Valle family controls the remaining 75 percent stake in the company through a holding of which Diego is the majority shareholder.The holdings are worth approximately $1 billion.