Category:Wealthy Retail

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Wealthy Retail

Carriage-trade merchants Stores that specialized serving the upper class with high class merchandise, such as found in 5th Avenue New York with Neiman Marcus, Lord & Taylor, Bonwit.

  1. Carriage trade Expensive goods for the very wealthy.
    1. Ego goods Expensive luxury items.
  2. Counter publics Disenfranchised people who used the store to become public people, the place were women first became public women. Some women used stores to fortify boundaries of social class, exercising their power over shopping assistants with the prospect of a sale and never delivering.

Luxury trade Goods and services for the top elite and wealthiest in society.

Luxury market Usually the top 10% of any marketplace.

Luxury brand chains Retail enterprises that extended exclusive luxury goods into a mass market for well-off groups in society, especially as the concentration of wealth accelerated in the 1980s-90s.

  1. Lifestyle and global fashion brands (Western-style badges of luxury) Globalization of goods which mark a luxury lifestyle.

Galleria concept Collection of stores in a downtown location that offers luxury goods, e.g. San Francisco.

Carriage trade district Part of town with several department stores and other high-end shops, late 19th century.

  1. Union Square San Francisco, once known as a shopping district for the carriage trade that still has its share of fancy stores.

Notable Wealthy Retail Stores

Fortnum & Mason Started as a grocery business founded by William Fortnum, a footman to the royal household of Queen Anne, and his business partner, Hugh Mason, 1707.

  1. Fortnum & Mason customers Feeding royalty, armies and expeditionary forces (not to mention the provisions it supplied for the Tutankhamun expedition in 1923). Queen Victoria sent beef tea to Florence Nightingale, or Dickens popping in to buy a hamper to celebrate finishing a book. Edward VIII had kippers and marmalade shipped to Paris for his wedding breakfast when he married Wallis Simpson.

Celebrity Retail

Celebrity resale Cottage industry in Hollywood and on the Web retailing clothes either having been worn or studio duplicates.

  1. Star clothes (Celebrity castoffs) Items from celebrity closets.

Celebrity Glamor Shop Founded to benefit the Motion Picture and Television Fund, inspired by Mary Pickford who was alarmed by the number of actors hurt by the switch from silent movies to talkies, 1930.

Reel Clothes In North Hollywood which divides celebrity clothes:

  1. A-list Those clothes owned by stars that sell at premium prices.
  2. B-list Items worn by supporting actors and secondary stars.

Luxury Trade Industry

(alphabetical listing)

Bulgari

Corneliani Luxury Italian line of men’s suits.

Compagnie Financière Richemont AG (Financière Richemont AG) Swiss luxury goods chain selling jewelry and high-end watches, which include Baume & Mercier, Piaget and Officine Panerai.

  1. Cartier Jewelry store.
  2. Mont Blanc chain Mont Blanc high-end pens and accoutrements.

Equinox Luxury Holdings Private equity concern building a portfolio of luxury brands.

  1. Equinox/Jimmy Choo Acquires British boutique that makes sumptuous shoes, November 2001.

Fortnum and Mason High-class grocer and tearoom famous for its afternoon teas and exotic foods, Piccadilly, London, founded by William Fortnum, a footman in the court of Queen Anne, and High Mason, a local shop owner, 1707.

Luxury Brands Group

  1. Luxury Brands/Hardy Ames Acquired May 2001.
    1. Hardy Ames Founded by (later, Sir) Hardy Ames becoming Queen Elizabeth’s personal tailor (first as a princess 1951) at 14 Saville Row, London, 1946.
  2. Luxury Brands/Norman Hartnell Acquires Hartnell trademark from the defunct couture house, August 2001.
    1. Norman Hartnell Couture house that designed Princess Elizabeth’s coronation gown and most of the Queen Mother’s wardrobe.

Prada Holdings Italian fashion industry company.

Retail Brand Alliance (formerly, Casual Corner Group) Mini-empire of fashion and jewelry retailers owned by Italian, Claudio Del Vecchio, son of Leonardo Del Vecchio, founder of the Luxottica Group.

  1. Casual Corner Women’s clothing chain acquired from Luxottica Group, 1997.
  2. Petite Sophisticate Women’s clothing chain.
  3. August Max Woman Women’s clothing chain.
  4. Adrienne Vittadini Women’s knitwear line.
  5. Carolee Designs Women’s high end accessories brand.
  6. Retail Brand/Brooks Brothers Acquired from Marks & Spencers of UK for $225 million, 2001.
    1. Brooks Brothers High quality men’s clothing chain with 80 retail stores, 80 outlet stores and 72 stores across Asia, that dressed Abraham Lincoln and Fred Astaire, founded 1818.

Sistema Moda Italia Fashion trade group, Italy.

Tiffany & Co. Luxury group chain, based on 5th Avenue, New York with branches in upscale shopping places like Americana Manhasset, Greenwich, The Mall of Short Hills, Riverside Square, The Westchester and Fashion Square in Scottsdale, AZ.

  1. Tiffany/Little Switzerland Inc. Acquires 15 luxury stores which sells watches, jewelry, crystal, china and fragrances to tourists on 5 Caribbean islands and 2 in Alaska, April 2001.

Waterford Wedgwood Luxury goods manufacturer and retailer of high quality crystal products, fine china and earthware, tableware, giftware and other luxury products.

  1. Waterford Crystal PLC Maker of stemware, lightware, sculpted pieces and customized chandeliers, exports to 106 countries, based in Kilarry, Waterford, Ireland.
  2. Waterford Wedgwood/Rosenthal Takeover of Rosenthal luxury brand
  3. Waterford Wedgwood/Hutschenreuther Takeover of German luxury brand, August 2000.

Holding di Partecipazoni Industriali

Holding di Partecipazoni Industriali SpA (HdP) Major fashion holding company set up by Italian investment bank Mediobanca and investors close to Fiat’s Agnelli family. Its also is in the publishing business, including Rizzoli, which produces books, newspapers and magazines. Founded 1997.

Gruppo Finanziario Testile SPA (GFT) Apparel business owned by HdP which was instrumental in creating a demand for Italian designer fashions to the US with licensed designer names like Valentino and Armani, 1980s.

  1. Valentino Rome fashion house and brand acquired by HdP, 1998.
  2. Fila Fashion brand owned by HdP.
  3. Emanuel GFT's licensed women’s wear brand, taken back by its owner Ferragamo, 1999.
  4. Armani GFT women’s wear brand taken back from GFT by Giorgio Armani, 1999.
  5. Calvin Klein Industries Creator of licensed fashion products of GFT.
  6. Sahza Women’s line owned by GFT.
  7. Joseph Abboud GFT brand.

Note GFT’s growth stopped and was taken over by Mediobanca, 1993.

LVMH

LVMH Louis Vuitton Moët Hennessy (Moët Hennessy Louis Vuitton group) Conglomerate specializing in serving the high-end of the market with brand power of some of the world’s finest goods, based in Paris.

Pope of Fashion Nickname given to Bernard Arnault who piloted the French holding company LVMN to build the world’s most extensive empire of luxury brand goods companies, pioneering the concept of acquiring businesses of renowned designers like Dior or Givenchy and turning the names into valuable luxury brands.

  1. House of Dior Foundation of Bernard Arnault’s concept.

LVMH brands LVMN strategy to brand name luxury goods to attract millions of new customers below the very rich, 1988-2000.

  1. BeneFit Cosmetics 1999.
  2. Berlutti 1993.
  3. Bliss 1999.
  4. Bondi 2000.
  5. Celine 1996.
  6. Château d’Yquem 1999.
  7. Chaumet Jewelry brand, 1999.
  8. DesFosses
  9. Donna Karan International One of America’s leading fashion houses, creating business outfits for women, acquired by LVMH after bid, June 2001.
    1. Donna Karan Fashion house founded by Donna Karan and her husband, artist Stephan Weiss (1939-2001) in New York, which produced draped jersey skirts and signature bodysuits, 1984.
    2. Donna Karan perfume First produced 1992.
  10. Gabrielle Studio Private company that owned the Donna Karan trademarks, acquired by LVMH for $480 million, December 2000.
  11. Ebel 1999.
  12. Emilio Pucci 2000.
  13. Étude Tajan 2000.
  14. Fendi Italian maker of leather goods and accessories crated by Karl Lagerfeld, Fendi’s ready-to-wear designer from 1965 to present, 1999.
    1. Baguette bag Much-coveted after introduction 1997.
  15. Fred 1995.
  16. Fresh 2000.
  17. Givenchy Fashion brand, 1988.
  18. Guerlain 1994.
  19. Hard Candy 1999.
  20. Investir 1993.
  21. Kenzo LVMH fashion label, 1993.
  22. Krug 1999.
  23. Louis Vuitton Malletier Brown-and-tan leather goods and luggage maker, the cornerstone of the LVMH empire.
  24. Loewe Leather goods, 1996.
  25. Make Up For Ever 1999.
  26. Mark Jacobs 1999.
  27. Michael Kors 1999.
  28. Oliver Asia 1995.
  29. Omas 2000.
  30. Pommery and Lanson 1991
  31. Radio Classique 1999.
  32. Sephora LVMH cosmetic stores, Europe’s leading retail beauty chain, expanded from 57 to 460 stores in three years, acquired 1997.
  33. TAG Heuer Watches, 1999.
  34. Thomas Pink Shirts, 1999.
  35. Urban Decay 2000.
  36. Veuve Cliquot Champagne.
  37. Zenith Watches, 1999.

Au Bon Marché Owned by LVMH-Moët Hennessy Louis Vuitton.

Frank et Fils Owned by LVMH-Moët Hennessy Louis Vuitton, acquired 1994.

Duty Free Shopping Group Airport shops 1996.

Miami Cruiseline Services LVMH acquired 2000.

Art and Auction Magazine, 2000.

  1. Connaissance des Arts 2000.

La Samaritaine Department store in a cluster of old buildings in one of the finest locations in Paris control of which purchased by LVMH-Moët Hennessy Louis Vuitton, November 2000.

De Beers/LVMH Joint retail venture, between the South African diamond mining and marketing firm and luxury goods retailer to open stores in the world’s most fashionable cities to sell diamond jewelry. It is a totally new company in which De Beers has no management role, all part of the effort to circumvent De Beers alleged antitrust violations levelled by the US regulators that had ended in legal stalemate. Announced 16 January 2001.

LMVH/Fendi LMVH acquires the Italian fashion house Prada’s 25.5% stake in Fendi for $265 million, 24 November 2001.

  1. Fendi French luxury goods concern that makes handbags, furs and other fashion items with 83 stores worldwide, long run by five sisters whose parents founded the company 1925.

LVMH/Glenmorange Takes over Scottish whiskey company, October 2004.

Pinault-Printemps-Redoute

Pinault-Printemps-Redoute Retail group run by François Pinault, an industrialist.

  1. Fnac Chain of stores.

Gucci Trademark for Italian fashion house with an expensive line in leather luxury goods like women’s purses, briefcases.

  1. House of Gucci Family of hotheaded Italian manufacturers who were involved in feuds, tax evasion and murder before the sold their business to Investcorp, an investment bank.
    1. Patrozia Gucci Wife of Maurizio Gucci, the last family member to run the company, who said she would rather, “weep in a Rolls-Royce than be happy on a bicycle.” She was sentenced to 29 years in prison for his murder outside an office in Milan.
    2. Paolo [?Gucci] Maurizio Gucci’s cousin who said, “If Daddy dies leaving me nothing...I will put a team of lawyers to work for 50 years on the case if I have too!” He sued the company ten times 1981-87.
  2. Gucci Group NV Public company created by Investcorp in 1995 of which the controlling interest of 42% was held by François Pinault of France (Pinault-Printemps-Redoute), registered in The Netherlands for tax reasons, and LVMH held 20%, 1999. Thereafter, one of the most bitter fights in corporate history broke out that only ended in a complex agreement 10 September 2001.
  3. Gucci/Saint Laurant Haute couture house that Gucci turned into hot brand by Tom Ford, purchased the ready-to-wear and fragrance divisions of the Saint Laurant company for nearly $1 billion, 1999.
    1. YSL label Gucci’s Yves Saint Laurant ready-to-wear brand on which Gucci made substantial changes with provocative ad campaigns and an aggressive reduction in its licences from 167 to 15 in 2001.
  4. Gucci/Balenciaga Gucci acquires its rival with plans to open stores under the Balenciaga name, announced 6 July 2001.
    1. Balenciaga Line of fashion, fragrances and accessories.
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