We like success and success stories. There are a few in the news that are quite inspiring. The first one would be the adventures of Nathalie Massenet on the web and the recent sale of her site Net-a-Porter for $535 million to Luxury group Richemont. It just happens that Nathalie Massenet is connected to a very unique French family based in the lieu-dit of Keremma in Brittany. Her family ancestor Louis Rousseau was an ardent defender of Saint Simon and created on the dunes of Keremma a protected site, bought land and started building houses for his children and grand children. (http://assokeremma.free.fr/histoire02.htm). There are hundreds of descendants now; many of them owning houses in Keremma and buying more land. For sure the family is prospering!
Other story in the news, Coach, the leather and luggage company created in New York in 1941, announcing a 37.2% jump in profit and an agreement with Le Printemps, with the opening of 14 corners in Le Printemps stores over the next 3 years. A combination of “knack” and talent between CEO Lew Frankfort and creative designer Reed Krakoff seems to be the recipee. Reed Krakoff has launched his own fashion line during the last New York Fashion week but the company (ex-Sara Lee) owes a lot to him and should keep him close. He has invented these new products that have become “must have”. Yet another great example of affordable luxury (see previous post on Mauboussin). Affordable prices and internet sales are the winning horses on the ring.