Saint Laurent Page #4

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I see.

Congratulations.

Thank you, David.

But I'm just doing what I've always done.

Focusing on location.

I'm told it's too costly

but every time it's a success.

The Cipriani in Venice,

Rue Paradis in Nice,

Rue du Rhne in Geneva,

Fifth Avenue by the park in New York...

Like Caracas, Zurich,

and others.

I'm doing what I've always done,

while seeking to innovate.

Richard, remember what I told you?

At the Ritz bar exactly five years ago.

I told you exactly this...

"Yves will soon be the only one to shine.

"As shareholders,

"we must be as Visionary

and ambitious as he is. "

We could have done nothing.

Just savored the success

of the Mondrian show.

Customer orders went

from 1.3 million to 2.6 million.

On the buyer side,

from 800,000 to 1.4 million.

Press went wild for Yves all over the world.

We could have just maintained that level,

but no.

We ventured into ready-to-wear.

To take this risk and it was a risk.

When I approached Didier Grumbach

about production,

he said no.

And let me tell you,

now he doesn't regret it.

And what made him change his mind?

We told the press he'd be

in charge of fabrication.

Once it was in the papers,

he had to come on board with us.

Sometimes it's do or die.

David, you're buying my company.

I'm retired now.

I'm not here this morning

for financial reasons.

I'm here for the brand.

I'm here for Yves.

I held 80% of YSL for nine years.

Nine years of developing licenses,

launching our first perfume, "Y",

launching ready-to-wear

with the Rive Gauche store,

developing American-style franchises,

expanding our stores...

Nine years of setting trends

and doing things never done before

in fashion.

Now, either we stay where we are

or in six months we're 10 years behind,

or we move on to something else.

Meaning what exactly?

Is Yves still making the same dress?

Does he redesign Mondrian?

No. But it is his job to be creative.

It's ourjob too.

You should learn English,

Mr. Berg.

I have a lotto learn

but I do know

how to count in English you know.

This year, overall turnover is up by 7%,

with the luxury division at 12%.

That's not what I see.

Your figures don't include Richards shares.

They're incomplete.

Here's what's missing.

In getting my 80% of YSL,

you get the 50% share

that YSL has in Rive Gauche.

By adding the 40% in profits,

you get the 7% growth.

And Grumbach holds

the other 50% of Rive Gauche?

But in acquiring your group, Richard,

we wish

to follow modern business logic.

I think presenting just one collection

combining haute couture and ready-to-wear

is the safest option.

I'm strongly opposed to it.

Do you realize the impact

haute couture has abroad?

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