BUSINESSWEEK ONLINE : JULY 24, 2000 ISSUE
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INTERNATIONAL -- EUROPEAN BUSINESS Gucci Gets a Makeover... 1994 Harvard-educated tax lawyer Domenico De Sole takes over as COO. Promotes American Tom Ford to creative director. Launches restructuring, slashing costs and revamping sourcing, logistics, and production. 1995 Spring collection with a 1960s theme catapults Gucci to the top of European ready-to-wear industry. De Sole becomes CEO and takes Gucci public in New York and Amsterdam. 1996 Boosts advertising to $40 million. Six months after initial public offering, stock is up more than 500%. 1997 Continues to expand stores and product lines despite Asian crisis and weaker dollar. Ad spending goes to $70 million. 1998 Spends $80 million on boutique research. Prada acquires a 9.5% stake. 1999 De Sole battles LVMH for control of Gucci. French industrialist Francois Pinault buys 40% of Gucci for $2.9 billion. De Sole acquires Yves Saint Laurent, shoemaker Sergio Rossi, and Sanofi Beaute (now YSL Beaute). 2000 Overhauls YSL and relaunches ready-to-wear business. Acquires French jewelry and watchmaker Boucheron.Sales forecast is $2.2 billion, up 1000% since 1994. DATA: BUSINESS WEEK, COMPANY REPORTS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ BACK TO TOP					RELATED ITEMS Saint Laurent's Newest Look (int'l edition) TABLE: Gucci Gets a Makeover... CHART: ...And Profits Soar INTERACT E-Mail to Business Week Online

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