HUNGZHOU, China —Alibaba Group Holding Ltd., which accounted for about 2 percent of China’s gross domestic product, is building momentum for a possible initial public offering this year with profitability double that of Apple Inc.
The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
Amidst a wearable technology market that’s set to explode, Apple has announced that former Yves Saint Laurent CEO Paul Deneve has joined the company to work on “special projects,” reporting directly to chief executive Tim Cook.
CUPERTINO, United States — Apple Inc. is hiring Paul Deneve, the former chief executive officer of luxury fashion house Yves St Laurent Group, to work on special projects for CEO Tim Cook. Deneve returns to the iPhone maker after working for Apple in Europe during the 1990s. He was also CEO of Lanvin and Nina Ricci prior to joining Yves St Laurent.
Luxury brands should take a page from technology companies like Apple and adopt ‘ecosystem models’ to develop new markets, channels and products, advises a recent report by The Boston Consulting Group. BoF investigates.