How “Old Money” Fashion Families Lose Their Empires
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Surprisingly, the designer label adorning
Surprisingly, the designer label adorning your attire or luxury handbag is often no longer owned by the namesake family.
Today, on Old Money Luxury, we delve into the tragic sagas of why and:
How “Old Money” Fashion Families Lose Their Luxury Empires
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How The World’s Richest Man Picks An Heir (The Arnault Family Succession): Video
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The 3 Essentials For "OLD MONEY STYLE" Summer Outfits: The 3 Essentials For "OLD MONEY STYLE...
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TIMESTAMPS:
0:00 Introduction
1:12 1. Fashion’s Family Dynasties: A Brief History
3:28 2. The Louis Vuitton Downfall: A Tale of Luxury and Loss
6:15 3. The End of the Guccis: Death By Designer
9:08 4. The Unraveling of Saint Laurent: A Tale of Style and Sacrifice
—————————
Fashion’s family dynasties have a rich and storied history, with the concept of “old money” in the industry stretching back to the 19th and early 20th centuries.
These families built their fortunes in an era of rapid industrialization and societal transformation, leveraging their unique skills, creativity, and business acumen to establish what would become some of the world’s most renowned luxury fashion houses.
Prominent examples of old money fashion families include the Guccis, the Pradas, the Versaces, and the Fendis.
These dynasties have not just shaped fashion trends across generations, but they have also wielded significant influence on global culture, lifestyle, and luxury consumer behavior. Their impact extends beyond the catwalk; they’ve had an indelible effect on the art world, film industry, and high society circles.
Family disputes over the company’s trajectory, set against the backdrop of intensifying competition, birthed a maelstrom of internal turmoil and management missteps.
Confronted with this perfect storm, the Vuitton family made a heart-wrenching decision.
In 1987, they sold Louis Vuitton to the spirits conglomerate Moët Hennessy, birthing the powerhouse LVMH, thus leading to the rise of the world’s richest man, the almighty monarch of modern fashion — Bernard Arnault.
The riveting narrative of the Gucci family is one of humble beginnings, ascension to dizzying heights, and an eventual, devastating collapse.
The prologue unfolds in 1921, with the industrious Italian artisan Guccio Gucci launching a modest leather goods shop in the heart of Florence.
Over decades, this unassuming endeavor metamorphosed into one of the most esteemed luxury fashion icons globally.
Amidst this tumultuous storm, the family could do little to stem the ebbing profits and surging debts. By the late 1980s, the brutal reality had set in — they needed to sell Gucci to Investcorp, a Bahrain-based investment firm.
The captivating tale of the Saint Laurent family unfurls with the birth of Yves Saint Laurent, a prodigiously talented young man who, at the tender age of 21, would take the reins of the esteemed House of Dior following Christian Dior’s sudden death in 1957.
In the late 1990s, in a plot twist that even Ridley Scott’s direction couldn’t find time to find into a film, the decision was made to sell the brand to none other than the so-called Gucci Group, now a part of Kering conglomerate.
Today, on Old Money Luxury, we delve into the tragic sagas of why and:
How “Old Money” Fashion Families Lose Their Luxury Empires
—————————
How The World’s Richest Man Picks An Heir (The Arnault Family Succession): Video
—————————
The 3 Essentials For "OLD MONEY STYLE" Summer Outfits: The 3 Essentials For "OLD MONEY STYLE...
—————————
TIMESTAMPS:
0:00 Introduction
1:12 1. Fashion’s Family Dynasties: A Brief History
3:28 2. The Louis Vuitton Downfall: A Tale of Luxury and Loss
6:15 3. The End of the Guccis: Death By Designer
9:08 4. The Unraveling of Saint Laurent: A Tale of Style and Sacrifice
—————————
Fashion’s family dynasties have a rich and storied history, with the concept of “old money” in the industry stretching back to the 19th and early 20th centuries.
These families built their fortunes in an era of rapid industrialization and societal transformation, leveraging their unique skills, creativity, and business acumen to establish what would become some of the world’s most renowned luxury fashion houses.
Prominent examples of old money fashion families include the Guccis, the Pradas, the Versaces, and the Fendis.
These dynasties have not just shaped fashion trends across generations, but they have also wielded significant influence on global culture, lifestyle, and luxury consumer behavior. Their impact extends beyond the catwalk; they’ve had an indelible effect on the art world, film industry, and high society circles.
Family disputes over the company’s trajectory, set against the backdrop of intensifying competition, birthed a maelstrom of internal turmoil and management missteps.
Confronted with this perfect storm, the Vuitton family made a heart-wrenching decision.
In 1987, they sold Louis Vuitton to the spirits conglomerate Moët Hennessy, birthing the powerhouse LVMH, thus leading to the rise of the world’s richest man, the almighty monarch of modern fashion — Bernard Arnault.
The riveting narrative of the Gucci family is one of humble beginnings, ascension to dizzying heights, and an eventual, devastating collapse.
The prologue unfolds in 1921, with the industrious Italian artisan Guccio Gucci launching a modest leather goods shop in the heart of Florence.
Over decades, this unassuming endeavor metamorphosed into one of the most esteemed luxury fashion icons globally.
Amidst this tumultuous storm, the family could do little to stem the ebbing profits and surging debts. By the late 1980s, the brutal reality had set in — they needed to sell Gucci to Investcorp, a Bahrain-based investment firm.
The captivating tale of the Saint Laurent family unfurls with the birth of Yves Saint Laurent, a prodigiously talented young man who, at the tender age of 21, would take the reins of the esteemed House of Dior following Christian Dior’s sudden death in 1957.
In the late 1990s, in a plot twist that even Ridley Scott’s direction couldn’t find time to find into a film, the decision was made to sell the brand to none other than the so-called Gucci Group, now a part of Kering conglomerate.
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