Francois - Henglipinuo Luxury Living
In the YouTube online video shoot for some protesters, video Pino, 47-year-old wearing a dark suit and sitting in back of a taxi, he uneasily biting his fingers, and deliberately ignore the mob. Today, his response to the matter lightly, saying: "I keep my cool." Nevertheless, he admitted: "There was indeed a very tense."
In fact, the intense tension is the best description of Pino now live, as he faces two challenges --- a financial and the other is the fashion empire.
In the financial challenges that this 235 billion U.S. dollars of luxury goods sales Quotes crash, because Rome, Italy to the United States Hollywood, Rodeo Drive, California Avenue, consumers are suddenly shut their wallets tight, high-level department stores, including Neiman Library Sri Lankan department stores (Neiman Marcus), and Saks Fifth Avenue department stores (Saks Fifth Avenue), were significantly lower prices in order to reduce inventory. Bain & Company estimates that global sales of luxury goods in the first half of this year to reduce by 15% to 20% in 2009, an overall decline of about 10%.
Pino as early as the spring of 2008, quickly saw the first sign of sluggish consumption, and rapid implementation of all sectors in the PPR what he calls a "wartime budget."
"He really saw it." Saks Fifth Avenue department store CEO Ronald Fleischer said, he Pino described as "very busy, has a natural touch to the business."
Then forced to cut costs and inventory management have played a role: July 31 of this year, Pinot pleasantly surprised to announce that the PPR first-half profit fell 4.8%, to 10 billion U.S. dollars, revenues declined only 3.6%, to 13 billion U.S. dollars, which shocked the Wall Street.
Away from the luxury sector has been the plight of a number of opponents defeated, the report said, income stable, only a slight decrease in operating margins. It is said, PPR's stock rose about 30%, has made up 57% last year, fell sharply.
People close to Pino stressed that in this crisis, his self-confidence and status significantly enhanced, completely out of his father's shadow, took his own path. 72-year-old Francois Wa Pinuo that he has done.
"He was very calm," the old Francois Wa Pinuo told reporters that his son has praised the management and the ability to act decisively, "I was impressed, but did not tell him. We are a not an easy thing to give recognition of the family." By Market News
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