Big changes at Gucci Group, Behind the Marc, Hermès to LVMH: Cut stake, Rent the Runway, Cast your vote for Calgary

François-Henri Pinault | Source: Coolspotters

PPR Chief to Run Gucci Himself (NY Times)
“The French luxury magnate François-Henri Pinault said… he would personally take charge of Gucci Group as he reorganizes its parent company to focus on the most profitable businesses. Robert Polet, who has headed Gucci since 2004, will be stepping down in a few weeks… Mr. Pinault also said Paul Deneve would replace Valérie Hermann as chief executive of Yves Saint Laurent.”

At Marc Jacobs, the Show Before the Show (NY Times)
“‘Sometimes, I don’t know how we got from there to here,’ Mr. Duffy said, referring to the early days of his 27-year partnership with Mr. Jacobs, when the two of them constructed sets themselves and went around ‘with a tin cup’ to friends. ‘Nobody has any idea what it takes to do all this,’ he added.”

Hermès Wants LVMH to Cut Stake to Free Up Shares in the Market (Bloomberg)
Hermès wants LVMH to reduce its stake by more than half to free up shares on the open market… With the family controlling more than 70 percent of Hermès stock, ‘it’s not normal’ that LVMH Chief Executive Officer Bernard Arnault should hold 20.2 percent of the shares, Bertrand Puech said in an interview in Paris yesterday. ‘We want him to reduce his stake to less than 10 percent.’”

Cinderella Dreams, Shoestring Budget? No Problem (WSJ)
“If consumers can rent a movie by mail, or wheels on a whim, why not a couture gown should the occasion strike? That’s the concept behind Rent the Runway, a website launched in November 2009 that promises to give ‘every woman the opportunity to be Cinderella for the night’.”

Cast Your Vote for Calgary (NY Times)
“Imran Amed, the founder and editor of the popular Web site The Business of Fashion, has teamed with the renowned British leather craftsman Bill Amberg to create a new line of unisex totes designed with the globetrotting fashion follower in mind.”