Daily Archives: November 8, 2013

It has been a week of trans-oceanic change, from Nicolas Ghesquière taking the design chair at Louis Vuitton in Paris to Virginia abandoning its traditional Republican loyalties and electing Terry McAuliffe as governor and New York voting for Bill de Blasio to replace Michael Bloomberg in Gracie Mansion. Of the three events, it’s the latter that strikes me as the most potentially subversive. And probably not for the reasons you think.

The analysts are not happy. Chairman Yves-André Istel’s statement at the Richemont earnings report today that “No disposals are under consideration at this time or for the foreseeable future.” has been met with grim reaction in the city, which was hoping that Johan Rupert’s sabbatical, and the new leadership of co-CEOS Bernard Fornas and Richard Lepeuwould opt for a rationalisation of the Group, where the fashion brands – Chloe, Alfred Dunhill, Lancel, Shanghai Tang, Alaia – have always seemed an anomaly. Clearly, there’s something of a perception gap here between internal and external players. Why?