Forget industrialists and wall street professionals, here is filthy rich guy who owns world’s biggest fashion empires. François-Henri Pinault is of French origin whose fortune exceeds a staggering $6 billion with the famous auction house Christie’s and top Bourdeaux vineyard in his asset portfolio.
The man stepped into his family business which is the listed $28-billion-a-year conglomerate called PPR that is known to have Gucci, Bottega Veneta, and Yves Saint Laurent under his company’s management. Top-notch designers like Stella McCartney and Alexander McQueen are also known to work for this Luxury Fashion Emperor.
Although born with a silver spoon, Pinault is known to be down-to-earth and lacks the arrogance which usually comes with the prowess of money and fame. He is known to save his company from drowning in the market slump by buying a controlling stake of 70% in Puma. Other strategies that have helped PP remain afloat were cost controls, cutbacks and other business-savvy moves. He also believes that demand for luxe products will never have a permanent dip for people will always pay a price for anything that brings in undisputable quality and status.
Via: CNN Money