DOCSLIB.ORG

Registration Document INCLUDING the ANNUAL FINANCIAL REPORT 2016 CONTENTS

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Registration Document INCLUDING the ANNUAL FINANCIAL REPORT 2016 CONTENTS Registration Document INCLUDING THE ANNUAL FINANCIAL REPORT 2016 CONTENTS 1 5 PRESENTATION OF THE GROUP 5 FINANCIAL STATEMENTS 135 1.1 / Fnac Darty: creation of a leader 6 5.1 / Groupe Fnac’s consolidated financial statements 1.2 / History 9 as of December 31, 2016 and 2015 136 1.3 / Markets 12 5.2 / Notes to the consolidated financial statements 1.4 / Strategic vectors 15 for the year ended December 31, 2016 142 1.5 / Activities 18 5.3 / Parent company financial statements 210 1.6 / Property portfolio and equipment 27 5.4 / Notes 214 1.7 / Research and Development, patents and licenses 28 5.5 / Material change in financial or commercial position 225 5.6 / Report of the Statutory Auditors on the annual 2 financial statements 226 5.7 / Report of the Statutory Auditors on the consolidated CORPORATE SOCIAL AND ENVIRONMENTAL financial statements 227 RESPONSIBILITY 29 2.1 / Our commitments 30 6 2.2 / Methodology note 31 RISK FACTORS 229 2.3 / Social information 33 6.1 / Strategic and economic risks 230 2.4 / Environmental information 42 6.2 / Operational risks 232 2.5 / Societal information 51 6.3 / Market risks 236 2.6 / Report of the independent third‑party 6.4 / Financial risk 238 on the consolidated social, environmental 6.5 / Insurance 239 and societal data in this Management Report 55 6.6 / Risk management 241 3 7 CORPORATE GOVERNANCE 57 INFORMATION ON THE COMPANY, 3.1 / Administrative, executive and supervisory bodies 58 3.2 / Functioning of the administrative CAPITAL AND SHAREHOLDERS 243 and supervisory bodies 69 7.1 / The Company 244 3.3 / Compensation and benefits of administrative 7.2 / Capital 250 and executive bodies 74 7.3 / Shareholders 257 3.4 / Profit-sharing, collective incentive schemes 7.4 / Stock market information 258 and long-term incentive schemes 79 7.5 / Dividend distribution policy 259 3.5 / Report of the Chairman of the Board of Directors 7.6 / Organization of the Group 260 on the preparation and organization of the Board’s 7.7 / Related‑party transactions 263 work and internal control and risk management 7.8 / Major contracts 266 procedures instituted by the Company 81 3.6 / Report of the Statutory Auditors prepared pursuant to Article L. 225-235 of the French Commercial 8 Code on the report of the Chairman of the Board ADDITIONAL INFORMATION ABOUT of Directors of Groupe FNAC 98 THE REGISTRATION DOCUMENT 267 3.7 / Special Auditors’ Report on Regulated Agreements and Commitments 99 8.1 / Persons responsible 268 8.2 / Statutory Auditors 269 4 8.3 / Statutory Auditors’ fees 269 8.4 / Information from third parties, expert certifications COMMENTS ON THE PERIOD 103 and interest declarations 270 4.1 / Pro forma Financial Information 104 8.5 / Publicly available documents 270 4.2 / Analysis of business activities 8.6 / Information on equity investments 271 and consolidated results 105 8.7 / Documents incorporated by reference 271 4.3 / Group cash and equity 124 8.8 / Correspondence tables 272 4.4 / Recent events and outlook 132 8.9 / Glossary of alternative performance indicators 4.5 / Report of the Statutory Auditors on the pro forma 277 financial information for the periods ended December 31, 2015 and 2016 133 II 2016 REGISTRATION DOCUMENT FNAC DARTY © guteksk7/Shutterstock.com REGISTRATION DOCUMENT 2016 INCLUDING THE ANNUAL FINANCIAL REPORT Find all our publications on the website www.fnacdarty.com This Registration Document was filed with the French Securities Regulator (Autorité des marchés financiers - AMF) on April 14, 2017 in accordance with Article 212-13 of its general regulations. It may be used in support of a financial operation when supplemented by a Securities Note specified by the AMF. This document was drafted by the issuer and renders its signatories liable. © guteksk7/Shutterstock.com 2016 REGISTRATION DOCUMENT FNAC DARTY 1 Quote from the Chairman and Chief Executive Officer Alexandre BOMPARD, Chairman and Chief Executive Officer of Fnac Darty, upon presentation of the Group’s 2016 annual results: Through its human capital, its revenues, its distribution network, its customer base, and its recognized know-how, Fnac Darty represents a major new power in specialist retailing in Europe. Its robust business model and sound financial position are demonstrated by its initial results, which are positive and up sharply over 2016. When it begins the first chapter of its history, the Group is powerful, efficient and in a strong winning position. The choice we made to merge our two Groups was the right one, and we look forward to the future with a lot of confidence and ambition. 2 2016 REGISTRATION DOCUMENT FNAC DARTY The Fnac Darty network Benelux Number of stores 147 Range of products by geographical region and services France/Switzerland 461 Other products and services 16% Household appliances 20% Iberian Peninsula 52 Editorial products 17% Consumer electronics 47% Other regions 4 Acquisition of Darty Key figures September 2015: Fnac announces its intention to buy Darty Revenues: € 7.4 billion (1) with the aim of creating a European leader in the specialist (2) distribution segment. Number of employees: 27,000 June 2016: After formalizing its latest offer in May 2016, the Number of stores: 664 Group’s shareholders approved the plan virtually unanimously 2nd largest e-commerce retailer in France (3) at the Combined Annual and Extraordinary General Meeting on 6/17/2016. Weight of omnichannel sales: 45% of orders online July 2016: The brand obtains authorization from the French Competition Authority, finalizes its public offering and acquires control of Darty. August 2016: Governance of the new Group is established and revolves around an Executive Committee composed of the main executives from the two companies. Launch of consolidation process. (1) In pro forma. (2) Including Brazil. (3) Source Fevad / Mediamétrie: An average total of 13.6 million unique visitors per month. 2016 REGISTRATION DOCUMENT FNAC DARTY 3 4 2016 REGISTRATION DOCUMENT FNAC DARTY 1PRESENTATION OF THE GROUP 1 1.1 Fnac Darty: creation of a leader 6 1.4.3 / Increasing commercial attractiveness / and strengthening the customer relationship 17 1.1.1 / A merger that creates value 6 1.4.4 / Other products and services 17 1.1.2 / Major stages of the Darty acquisition 8 1.4.5 / Innovation central to the services offer 18 1.1.3 / Financing of the new Group 9 1.5 / Activities 18 1.2 History 9 / 1.5.1 / Geographical breakdown 18 1.2.1 / History of Fnac 9 1.5.2 / Range of products and services 19 1.2.2 / History of Darty 10 1.5.3 / An omnichannel distribution network 22 1.2.3 / Shared history of Fnac Darty 11 1.5.4 / Fnac Darty’s customers 25 1.3 / Markets 12 1.6 / Property portfolio and equipment 27 1.3.1 / Description of markets 12 1.3.2 / Market trends 12 1.7 / Research and Development, patents and licenses 28 1.4 / Strategic vectors 15 1.4.1 / Synergies: value creation potential 15 1.4.2 / Innovation central to omnichannel development 16 2016 REGISTRATION DOCUMENT FNAC DARTY 5 PRESENTATION OF THE GROUP 1 Fnac Darty: creation of a leader 1.1 / FNAC DARTY: CREATION OF A LEADER With €7.4 billion (1) in revenues and 27,000 employees, Fnac Darty financing, kitchen services and after-sales service. Fnac Darty has is one of the top 3 omnichannel distributors in its sector in Europe. a dense network of 664 multi-format stores in 10 countries, in key locations, combined with a powerful online offer that makes The Group offers an unrivaled range of editorial products (17% it the second largest e-commerce retailer in France. The Group is of sales), consumer electronics (47% of sales) and household a genuine “click & mortar” player with an omnichannel offer that appliances (20%), in addition to a full range of other products meets the fast changing needs of consumers. and services (16% of sales) including ticketing, warranties, 1.1.1FNAC / A merger DARTY that CREATION creates value OF A LEADER Creating a market leader A market leader in the French electronics, 1 editorial & home appliances retail market 1 A combination of two iconic French brands which will benefit customers Significant synergy potential Combination of two highly recognised 6 2 and well-respected brands with strong customer awareness Improved scale & reach across A complementary, more diversified and multiple formats 5 3 more resilient product offering with growth Enhanced network of complementary stores potential in France and an enlarged European Enhanced product offering and stronger platform footprint for further expansion into new product categories 4 An enhanced omnichannel proposal addressing evolving customer expectations Strengthened physical and online shopping experience 6 for customers 1 The retail landscape for consumer electronics, editorial products The Group is the leader in consumer electronics in France and is and household appliances has changed greatly in recent years. an essential actor in the distribution of editorial products: it is the Since the early 2000’s, the market has undergone a profound largest bookseller with more than 46 million books sold, the largest transformation due to digitalization and competitive pressures music store with more than 10 million audio CDs sold in 2016, from online. In response, traditional brands have recently turned to and the leading player in the video market with close to 10 million consolidation to achieve the necessary scale to remain competitive DVDs and Blu-Rays sold in 2016. Fnac Darty is a major player in (e.g. Dixons/Carphone, Carrefour/Rue du Commerce, CDiscount/ household appliances and related services. Lastly, the Group is a Casino). Fnac and Darty have merged for the purpose of bolstering leader in France in event ticket sales.
Load more

Recommended publications
  • U20 France Masculin Comité De Sélection – Stage Du 12 Au 18 Octobre
    ! Linas-Marcoussis, mardi 6 octobre 2020 U20 FRANCE MASCULIN COMITÉ DE SÉLECTION – STAGE DU 12 AU 18 OCTOBRE Suite aux échanges avec les encadrements des clubs et aux supervisions des trois premières journées « Espoirs », les entraîneurs nationaux ont convoqués des joueurs de moins de 20 ans pour un stage de développement du 12 au 18 octobre. Sébastien Piqueronies, Manager France Jeunes « Nous profitons de la coupure du championnat Espoirs pour solliciter le groupe élargi de nos moins de 20 ans. Ce groupe correspond momentanément à notre réservoir de talents sur la génération. Suivant notre ambition de partage avec les clubs, certains éléments sont laissés à leur disposition pour cette période de compétition professionnelle. Malgré les dernières indisponibilités dues aux blessures de ce week-end, nous constatons une profondeur de haute qualité dans cet effectif. » Liste des joueurs participants au stage : BARRÉ Léo STADE FRANÇAIS BARTIN Enzo ASM CLERMONT AVUERGNE BAUDONNE Maxime RACING 92 BELLEMAND Robin US COLOMIERS BOUDOU Benjamin ASM CLERMONT AUVERGNE BRENNAN Joshua STADE TOULOUSAIN CAROL Thomas STADE ROCHELAIS COLONNA Pierre CASTRES OLYMPIQUE COURTIES Ruben STADE TOULOUSAIN DARTHOU Maxence CA BRIVE DEBAES Thibault SECTION PALOISE BÉARN PYRÉNÉES DELLA-SCHIAVA Noé STADE ROCHELAIS DESCOUX Louis US COLOMIERS DESJEUX Mattéo RC VANNES EPEE Nelson STADE TOULOUSAIN ESPAGNET Charli MONT-DE-MARSAN FARISSIER Nathan LOU RUGBY GARCIA Mattéo UNION BORDEAUX BÈGLES GARRIGUES Clément SU AGEN GIRAL Théo ASM CLERMONT AUVERGNE HADDAD Matthias STADE ROCHELAIS
    [Show full text]
  • Press Release 05.06.2021
    PRESS RELEASE 05.06.2021 REPURCHASE OF OWN SHARES FOR ALLOCATION TO FREE SHARE GRANT PROGRAMS FOR THE BENEFIT OF EMPLOYEES Within the scope of its share repurchase program authorized by the April 22, 2021 shareholders' meeting (14th resolution), Kering has entrusted an investment service provider to acquire up to 200,000 ordinary Kering shares, representing close to 0.2% of its share capital as at April 15, 2021, no later than June 25, 2021 and subject to market conditions. These shares will be allocated to free share grant programs to some employees. The unit purchase price may not exceed the maximum set by the April 22, 2021 shareholders' meeting. As part of the previous repurchase announced on February 22, 2021 (with a deadline of April 16, 2021), Kering bought back 142,723 of its own shares. About Kering A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods, Jewelry and Watches: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, Ulysse Nardin, Girard-Perregaux, as well as Kering Eyewear. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow’s Luxury in a sustainable and responsible way. We capture these beliefs in our signature: “Empowering Imagination”. In 2020, Kering had over 38,000 employees and revenue of €13.1 billion. Contacts Press Emilie Gargatte +33 (0)1 45 64 61 20 [email protected] Marie de Montreynaud +33 (0)1 45 64 62 53 [email protected] Analysts/investors Claire Roblet +33 (0)1 45 64 61 49 [email protected] Laura Levy +33 (0)1 45 64 60 45 [email protected] www.kering.com Twitter: @KeringGroup LinkedIn: Kering Instagram: @kering_official YouTube: KeringGroup Press release 05.06.2021 1/1 .
    [Show full text]
  • Spring 21 – Global Fashion Industry: Italy PRACT-UG 9200 Wednesdays, 15:30 P.M
    Spring 21 – Global Fashion Industry: Italy PRACT-UG 9200 Wednesdays, 15:30 p.m. - 18:15 p.m. Daylight Savings Time starts in Europe on March 27,2021 Blended Villa La Pietra, Le vedute Spring 2021 We know that you may be taking courses at multiple locations this semester. If you are enrolled in this course 100% remotely and are not a Go Local/Study Away student for this course site, please make sure that you’ve completed the online academic orientation via NYU Classes so you are aware of site specific support, policies and procedures. Please contact [email protected] if you have trouble accessing the NYU Classes site. If you are attending in person, you will be instructed to choose your seat on the first day and are expected to use that seat for the entire semester due to NYU COVID-19 safety protocol. Class Description: Prerequisites: none. Global Fashion Industry: Italy will provide students with a deep understanding of the contemporary fashion industry in Italy, as well as of Italy's position in the global fashion arena. The course will drive students through the entire lifecycle of the fashion business, from forecasting trends to retailing, through design, sourcing, product development and production. P articular attention will be dedicated to different marketing aspects of the process, such as: identity building, brand positioning, merchandising, buying, costing, communication. All levels of retail, from luxury to mass market will be covered. The course will end with an analysis of the new challenges, such as sourcing globalization,Sample emerging markets, sustainability and Syllabusgrowing significance of technology.
    [Show full text]
  • STADE TOULOUSAIN VS C.A.BRIVE STADE TOULOUSAIN VS C.A.BRIVE 3 Le Stade Et L’Après H Cup
    TOULOUSAIN VS BRIVE Samedi 12 Avril - 20h35 - Ernest Wallon ème 24 journée N°12 INTERVIEW STADISTE Vincent Clerc Objectif Top 14 pour LE StaDE BRIVE n’a pas dit son dernier mot Julien Le Devedec L’an II de « Lede » #stcab L’INTERVIEW STADISTE ACCESSION À LA PROPRIÉTÉ OU INVESTISSEMENT LOCATIF Vincent Clerc : « Pas le temps de tergiverser » Vous venez de subir une assez lourde défaite face au Munster. Cette déconvenue peut-elle laisser des traces pour la suite de votre saison ? Le match nous laisse évidemment des regrets. Mais l’ampleur du score indique que la victoire irlandaise est largement méritée. RÉSIDENCE À LAUNAGUET [31] RÉSIDENCE À LABENNE [40] Il est temps pour nous de passer à autre chose, même si nous gardons à l’esprit, sur cette dernière rencontre, notre mauvaise entame, qui nous a ces dernières semaines. coûté une énorme débauche d’énergie pour revenir au score à la mi-temps. J’ai envie d’y croire, et je crois réellement que le Lancement commercial Lancement commercial Mais si nous avons des regrets, c’est notamment au niveau des matchs de potentiel est là. À partir de 128.000 TTC À partir de 139.675 TTC € € poule, durant lesquels nous n’avons pas su aller chercher ce quart de finale à domicile. Et on a pu voir à quel point il est important de recevoir… Clermont et Toulon font de très belles Maintenant, nous sommes loin d’être qualifiés pour les barrages du Top 14. performances et une bonne saison. Que Nous avons de gros objectifs en vue, ce qui ne laisse pas trop le temps de manque-t-il au Stade pour revenir à ce niveau ? tergiverser.
    [Show full text]
  • Universal Registration Document Including the Annual Financial Report Contents
    2019 UNIVERSAL REGISTRATION DOCUMENT INCLUDING THE ANNUAL FINANCIAL REPORT CONTENTS 1 5 PRESENTATION OF THE GROUP 5 FINANCIAL STATEMENTS AFR 191 1.1 / Fnac Darty: our model NFPD 65.1 / Group consolidated fi nancial statements 1.2 / History 14 as of December 31, 2019 and 2018 192 1.3 / Fnac Darty markets and offering 22 5.2 / Notes to the consolidated fi nancial statements 1.4 / Group strategy: Confi ance+ 30 for the year ended December 31, 2019 198 1.5 / Property portfolio and equipment 44 5.3 / Parent company fi nancial statements 280 1.6 / Regulatory environment and changes 45 5.4 / Notes 283 1.7 / Research and Development, patents and licenses 45 5.5 / Material change in fi nancial or commercial positions 297 5.6 / Auditors’ Report on the consolidated fi nancial statements 298 2 5.7 / Auditors’ Report on the annual fi nancial statements 305 CORPORATE SOCIAL RESPONSIBILITY NFPD 47 Introduction 48 6 2.1 / Risks associated with business developments RISK FACTORS AND INTERNAL CONTROL 309 in the sector 52 2.2 / Risks associated with changes in consumer patterns 61 6.1 / Strategic and economic risks 312 2.3 / Risks associated with the environmental impacts 6.2 / Operational risks 315 of the activities conducted 69 6.3 / Legal and regulatory risks 319 2.4 / Risks associated with the integrity of Fnac Darty 6.4 / Financial risks 321 and its partners 80 6.5 / Insurance 322 2.5 / Nature & Découvertes: a strategic acquisition 6.6 / Risk management NFPD 324 that is in line with Fnac Darty’s values 87 2.6 / Methodology note 88 2.7 / Independent Third-Party
    [Show full text]
  • Le Rugby Professionel Aux Couleurs De Nos Soignants Pour Le Boxing Day Avec La Fondation Hopitaux De Paris – Hopitaux De France
    LE RUGBY PROFESSIONEL AUX COULEURS DE NOS SOIGNANTS POUR LE BOXING DAY AVEC LA FONDATION HOPITAUX DE PARIS – HOPITAUX DE FRANCE PARIS, LE 21 DECEMBRE 2020 – Une fois de plus, le Boxing Day rime avec solidarité et générosité en 2020 ! Ainsi, à l'occasion des rencontres de TOP 14 de fin d'année qui auront lieu le dimanche 27 décembre, la Ligue Nationale de Rugby (LNR) a souhaité dédier cette journée au personnel soignant en s'associant à la Fondation Hôpitaux de Paris - Hôpitaux de France (HP-HF) pour permettre d'améliorer le quotidien de tout le corps hospitalier extrêmement sollicité durant cette année 2020. "Le TOP 14 aux couleurs de nos soignants" : tel est l'engagement de la Ligue Nationale de Rugby (LNR) pour le Boxing Day 2020. Si cette année 2020 a durement affecté chaque Français, tout le pays a pu compter sur un personnel hospitalier sans faille et pourtant soumis à rude épreuve tout au long de la crise sanitaire. Durant cette période, la Fondation Hôpitaux de Paris - Hôpitaux de France (HP-HF) a répondu aux besoins les plus urgents exprimés par les hôpitaux et les EHPAD de toute la France. La Fondation œuvre notamment pour la création et l'aménagement d'espaces de détente pour les soignants éprouvés par la crise. Elle finance également des espaces famille dans les EHPAD, afin de permettre aux résidents d'accueillir leurs proches en toute sécurité. La LNR a souhaité s'engager pour les accompagner dans cette mission. Le dimanche soir, pour le choc final du Boxing Day qui verra s'affronter le RC Toulonnais et l'ASM Clermont Auvergne à 21h, tous les joueurs des deux équipes porteront pour la première fois des maillots uniques entièrement redessinés aux couleurs des blouses du personnel hospitalier, le blanc pour le RC Toulonnais et le bleu-vert pour l'ASM Clermont Auvergne.
    [Show full text]
  • An Adventure of Enterprise
    An adventure of enterprise Above all, PPR is the incarnation of a state of mind: the desire and willingness to display entrepreneurship. With boldness and a sense of risk, PPR invests and commits itself to its various businesses, always directed at the same goal: to grow its activities and become the leader. It imposes on each of its brands and companies its own demanding culture of growth and performance. With revenues of nearly € 18 billion in 2006 , PPR is a world leader in two different, but complementary universes: Luxury Goods and Retail. The diversity of its brands and businesses drives its success. Its specifi c balance in terms of products, sales formats, brands, and geographical locations has generated a growth profi le surpassing the average in its markets. Open to the world and backed by the skills and talents of its 78 ,000 employees, PPR makes expertise the core of its development and values and promotes an entrepreneurial spirit. It is a group with cutting-edge talents ahead of its time. As a responsible corporate citizen, it guarantees the conduct of its brands and places human values at the centre of its commitments. 2 2006 FINANCIAL DOCUMENT - PPR Sommaire 1 PPR in 2006 5 2 The Group’s activities : Luxury Goods and Retail 21 3 Financial Information 68 2006 FINANCIAL DOCUMENT - PPR 3 4 2006 FINANCIAL DOCUMENT - PPR 1 PPR in 2006 HISTORY 6 KEY CONSOLIDATED FIGURES 8 THE PPR GROUP 10 A leading player 10 Positioning and strategy 10 Group organisational chart as of 31/12/2006 11 2006 FINANCIAL DOCUMENT - PPR 5 1 PPR IN 2006 History History Established in 1963 by François Pinault in the timber and building material businesses, the PPR group positioned itself in the middle of the 1990s in the Retail sector, in which it soon became a major player.
    [Show full text]
  • Knowthehcain I Questions Regarding Forced Labour Risks in Your Company’S Leather Supply Chain
    KNOWTHEHCAIN I QUESTIONS REGARDING FORCED LABOUR RISKS IN YOUR COMPANY’S LEATHER SUPPLY CHAIN In countries including but not limited to Pakistan, Bangladesh and India, leather processing is characterised by hazardous and poor working conditions, which may be early indicators or eventually lead to forced labour.1 In countries including India and China forced labour risks have been documented. Through this questionnaire, KnowTheChain would like to get a better understanding of how your company is addressing risks related to forced labour specifically in its leather supply chain. In answering these questions, please indicate where your company’s policies or practices specifically apply to cattle sourcing, leather processing or leather goods manufacturing countries at risk of forced labour and human trafficking such as Brazil, China and India2 or other countries where you might have identified forced labour risks. Traceability: 1. Leather goods manufacturing: a. In which countries does your company and/or your suppliers manufacture leather goods (option to indicate percentage or volume of supply from each country)? b. What are the names and addresses of your company’s and/or your suppliers’ leather goods manufacturers? Please indicate the nature of your relationship to them, e.g. direct owned or purchasing only (option to indicate workforce data you deem relevant, such as workforce composition (e.g. percentage of informal/migrant/female workforce) or rate of unionisation). What are the names of the persons legally responsible for the production facilities? 2. Leather processing / tanneries: a. In which countries does your company and/or your suppliers process and produce leather? b. What are the names and addresses of your company’s and/or your suppliers’ tanneries? Please indicate the nature of your relationship to them, e.g.
    [Show full text]
  • Alexander Mcqueen
    1 Alexander McQueen Brand Audit Jonathan Quach 2 Lee Alexander McQueen founded his brand in 1992, and decided to name it after his middle name Alexander due to his long time friend Isabella Blow. She was convinced that it would give off a more memorable impression, something to the likes of Alexander “The Great”. Isabella was an incredible influence in the success of the Alexander’s career, she had all of the contacts he needed and was instantly enthralled when she saw his first graduation collection from Central Saint Martins. She even bought the entire collection. The headquarters for his company is located in London, United Kingdom. Gucci Group acquired 51% of the Alexander McQueen brand in December of 2000. Kering, which is a French luxury goods holding company that also owns Gucci, has acquired many luxury brands since its inception, and on the Forbes Global 2000 they are McQueen’s ranked at number 763. Gucci provided Alexander McQueen with the necessary flagship store on Bond Street resources to expand the brand such as management and infrastructure. They planned on expanding into sectors such as accessories, fragrances, and ready-to-wear clothing. Alexander McQueen being a very luxurious brand that offers high-end couture, decided to widen its market with the addition of McQ. McQ is targeted toward the youthful spirit of street wear, while trying to maintain the McQueen look. The line is meant to appeal to the youth also by its price point. It is generally cheaper, but still upholds the McQueen aesthetic. Originally, it was under another label, SINV Spa, but then Alexander McQueen resumed full control of McQ in October of 2010.
    [Show full text]
  • Gucci: Flattening Women Through Patriarchal Heteronormativity
    Running head: GUCCI: FLATTENING WOMEN 1 Gucci: Flattening Women Through Patriarchal Heteronormativity Sara R. Freitag Approaches to Rhetorical Criticism Dr. Antonio T. De La Garza Fall 2017 GUCCI: FLATTENING WOMEN 2 Abstract The purpose of this paper is to employ feminist ideological framework and Creative Analytic Practice in evaluating the inferior positionality that women are subjected to through Gucci’s 2003 and 2010 advertising campaigns. My paper enters intellectual discourse surrounding fashion photography and contributes toward the discussion by explicating ways women are flattened physically, visually, and metaphorically. Previous analyses have touched on these topics, but there has been lack of precision and gravity in regard to implications. Furthermore, no research has been presented in regard to Gucci’s perpetuation of such ideals. Hegemonic masculinity’s prevalence is evident, as it pervades every aspect of culture. Though women’s fashion photography targets a primarily female audience, patriarchal heteronormativity implicitly and explicitly undermines women’s autonomy. The “male gaze,” which is evident in all forms of media, is particularly pervasive in women’s fashion photography. Conclusions convey that Gucci’s portrayal of women gives way to the illusion that the female half of the population is of little worth, to be subordinated by the dominant male population. The message being sent is that women, through physical, visual, and metaphorical means, are solely an image. GUCCI: FLATTENING WOMEN 3 Gucci: Flattening Women Through Patriarchal Heteronormativity Women have been flattened. They have been flattened physically, visually, and metaphorically at the command of oppression’s chief watchdog, otherwise known as fashion photography. Fashion photography presented by such brands as the prestigious and equally idolized Gucci strip women of freedom, identity, and voice.
    [Show full text]
  • Not a Company's Size Or Age, Traub CEO Mortimer Singer
    he lines are starting to blur,” says are private companies, making their collective size Communication Mortimer Singer, CEO of the retail con- difficult to estimate precisely. However, the razor and connection sumer advisory firm Traub. “It’s not about subscription service Dollar Shave Club, one of the will determine “ old versus young, big versus small, online 200 Davids, was purchased by Unilever in 2016 for the future or offline. Across the board, it’s brands that a reported $1 billion (the deal’s terms weren’t dis- of retail — not T are seen as authentic, as embracing and em- closed), and a year later Blue Apron, a meal-kit deliv- bodying a set of values, and communicating directly ery business and another David, raised $300 million a company’s with global consumers that are succeeding today. in its IPO. Traub conservatively estimates that each size or age, Traub And they’ll be the ones that will win over the long David generates at least $10 million in sales, putting CEO mortimer term. This is true even for the incumbents, and may- the Davids’ collective annual sales at $2 billion – and, singer tells be especially the incumbents, because they have the based on the effects of their pricing models, Traub Brunswick’s infrastructure and customer base already in place.” estimates the Davids take more than $4 billion out of blake Traub, whose clients include clothing companies traditional retail channels each year. sonnenshein. such as Naadam Cashmere and Knot Standard, the While these digital-first companies are tiny by big- skincare and cosmetics firm Borghese, the luxury name standards – Walmart had a 2017 revenue of al- brand Lalique and the premium candy and chocolate most $500 billion, with more than $10 billion in on- line Sugarpova, published a 2017 report highlight- line sales – the Davids are growing steadily in size and ing a group of smaller, often overlooked businesses “founded, launched, and nurtured entirely online.” Collectively, these businesses posed an economic challenge to the Goliaths of retail, the report argued.
    [Show full text]
  • Stock Story: Kering
    Stock Story: Kering Offering Gucci, Yves Saint Laurent and other luxury brands to the world Celebrating its centenary year in 2021, Gucci the brand’s sales, and the brand is a fixture among young Hollywood actors and musicians. invokes a glamorous, romantic, eclectic and The second is the craftmanship of the brands. They inclusive ideal. The brand, in its premium are acknowledged for their unique design, instantly position in fashion, is cemented in popular recognisable signifiers such as the horse bit, tri-stripe and culture and beloved by its followers. flora patterns, and designed and made-in-Italy credibility Gucci is the flagship and highly profitable brand within and product quality. the glittering portfolio of greatly coveted brands owned The third is control of its distribution. About 87% of by Kering, one of the largest luxury groups in the world. Gucci’s products are sold via its owned-retail or online Kering is controlled and managed by the Pinault family networks, which enables control of the presentation, from France. ambience and, importantly, pricing. The products are In addition to Gucci, Kering owns Yves Saint Laurent, never sold at a discount (even by third parties) – an Bottega Veneta, Balenciaga and Alexander McQueen important factor in the maintenance of the cachet of the among other clothing, jewellery and eyewear businesses. brands. The business has generated substantial growth in the past The fourth element is economies of scale. This creates decade. The brands have seen insatiable demand from a virtuous circle as it gives the company the ability to the rapidly growing affluent class of consumers within outspend peers on advertising and promotion and control China and the Gucci brand has enjoyed a revival under the customer conversation around its brands.
    [Show full text]