The Business of Fashion

Yves Saint Laurent | The Final Farewell

There was wall-to-wall coverage of Yves Saint Laurent's funeral in Paris on Thursday, but as usual, it was Suzy Menkes, in her own erudite and quirky way, who best managed to capture the mood of the moment in her article and video about Saint Laurent's final farewell.

That John Galliano, Christian Lacroix, Ricardo Tisci, Valentino Garavani, Jean-Paul Gaultier, Sonia Rykiel, Stefano Pilati, Mark Jacobs, Alber Elbaz, Hubert de Givenchy and Vivienne Westwood were all there to pay homage speaks to Saint Laurent's towering status amongst his peers and YSL successors. The one notable absentee was Karl Lagerfeld.

Marc Jacobs, speaking of Saint Laurent's influence on his own designs, said simply "He's the person who taught me everything I know." In creative fields like fashion, it is this kind of recognition, respect and influence that stands the test of time. Not dollars and cents.

Yves Saint Laurent | 1936-2008

The inventor of modern-day ready-to-wear, the first designer to use black models on his runway, the first to bring androgyny to high fashion, the successor to Christian Dior, the first to license his name to other businesses, and one of the youngest designers ever to be at the helm of a major Parisian Haute Couture house, Yves Saint Laurent, died at his home on Sunday evening, June 1, 2008. 

Fans of YSL, or simply those who want to learn more, may want to check out the newly-opened (and, I guess, impeccably-timed) YSL retrospective at the Musée des Beaux Arts de Montréal which runs until September 28, 2008 and which is being planned in conjunction with La Fondation Pierre Bergé-Yves Saint Laurent.  Pierre Bergé himself was on-hand for the opening of the highly-acclaimed exhibit last week, and according to a friend on the organising team, he recounted some incredible stories about his life and times with Monsieur Saint Laurent.

Of course, tributes to YSL are pouring in  from up on high, from every corner of the fashion world. But, if you would like to pay your own personal tribute, please feel free to do so here and I will ensure that any tributes and comments are sent over to Montréal to be shared somehow as part of the retrospective.  It would be a fitting way to honour this legendary designer who was, above all, a man of the people, known for empowering women.

YSL: Interactive experimentation

For years now, the Yves Saint-Laurent brand has been a drag on the otherwise strong results posted by many other fashion brands in the Gucci Group, owned by parent-company PPR. Most recently, Bottega Veneta has been on a tear with strong financial results (eclipsing YSL's top line revenue in 2006) and a leading position in the luxury consumer league tables, making it the number two luxury brand in PPR's stable.

The story for YSL is a lot less fairytale, and a lot more Nightmare on Elm Street. The brand has not been profitable since Gucci Group purchased it in 1999 and is still reportedly losing around €50m a year. The brand turned over €194m in sales in 2006. PPR doesn't break out operating loss of YSL its website and has not provided a timeframe to investors for expected profitability.