Last month, I had the chance to sit down with Domenico De Sole, chairman of TOM FORD, at the National Retail Federation's annual Big Show. [6], De Sole and his wife Eleanore Leavitt De Sole live on Hilton Head Island in South Carolina. [5] During his tenure De Sole guided the brand from near bankruptcy to a luxury conglomerate that included Yves Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Stella McCartney, and Sergio Rossi. Memories of Maurizio faded and gave way to Guccis newfound popularity, and surging sales. By 1993, the family's attorney and the CEO of Gucci America, Domenico De Sole, had sided with Investcorp, forcing out Maurizio. It unfortunately, however, did not happen. before pulling the trigger. Ridley Scotts House of Gucci, an Italian fashion family epic, creates a wild soap opera from the tempestuous romance between fashion heir Maurizio Gucci (Adam Driver) and his power-hungry bride, Patrizia Reggiani (Lady Gaga). Antonella Gugliersi (she/them) is a feature writer for Screen Rant. You may occasionally receive promotional content from the Los Angeles Times. Yes. Now Hollywood Shuffle is a classic, Remember that Harry Styles Spitgate drama? Having been convicted for her role in securing the assassins who would kill Maurizio, Auriemma was sentenced to 25 years in prison. Having created an immensely valuable franchise out of ashes, De Sole is not likely to take orders from Arnault, five years his junior. When Paolo aligned his interest with Maurizios 50%, he tipped the scales to begin the process that ultimately led to the family no longer owning the company. In 1993, with Maurizio still holding half the shares, Gucci was losing money and auditors were recommending the liquidation of the labels assets. If you happened to catch the 2021 film House of Gucci starring Lady Gaga and Adam Driver, based on the dramatic real-life events of the Gucci family, then you also caught an interesting glimpse into the life of Domenico De Sole. It is based on the 2001 book The House of Gucci: A Sensational Story of Murder, Madness, Glamour, and Greed by Sara Gay Forden, itself based on real events. The gunning down of 46-year-old Maurizio Gucci one morning in the red-carpeted foyer of his office, and the subsequent murder trial, captivated Italy in the late 1990s. The GG logo whether it was real or knockoff, it was literally everywhere. Maurizio actually dissolved his partnership with Paolo before a 1986 board meeting, leading his cousin to launch a new line of handbags and other designs under his PG label. First she met Cicala in her car and then later at a bar. By the time Maurizio Gucci was gunned down in the lobby of his Milan office on March 27, 1995, the company he knew and loved was already embarking on a new journey under Domenico De Sole and Tom Ford, and priming for the sort of success that would surpass Maurizios own big ambitions. Paolos catchphrase in the movie, used to express any dissatisfaction and uttered like a light tap to the gut, is a short Boof! Theres no indication Paolo ever used the phrase. Asked by paparazzi in the street why she hired a gunman to kill Maurizio rather than do it herself, she said, My eyesight is not so good, I didnt want to miss. According to the new afterword in the movie tie-in edition of Fordens book, in November 2020, Reggiani prevailed in a case before Italys Supreme Court in which her two daughters were attempting to block her continuing to receive a substantial annuity from the Gucci estate. He filed for bankruptcy in 1993 and died in London in 1995. She also resented what she described as his indifference to her illness and subsequent brain surgery in 1992, and she said she felt betrayed by Maurizios sale of the family company shares to Investcorp, bringing one of many chapters in the long-running Gucci saga to a close. By HLS News Staff. The financial police cited copyright issues and the unlawful practice of using the name Gucci without having the right to do so. No. House of Gucci. [9], In the 2021 film House of Gucci, directed by Ridley Scott, De Sole was portrayed by actor Jack Huston.[10]. Ultimately, the 2022 Oscars were full of very strong contenders in almost every category, so the most likely explanation is thatHouse of Gucci, while a solid film, simply wasn't able to hold its own against the likes ofThe Power of the Dog,West Side Story, andKing Richard. House of Gucciimplies Patrizia took care of it by forging Rodolfo's signature. Maurizio escapes across the Swiss border on a motorcycle. But Patrizia began interceding when she wasnt seeing quick enough results. This was before we had begun to roll, when we were largely in the planning stages. Gucci could sell its goods through hundreds of lvmh outlets. But Domenico De Sole (Jack Huston), the family's longtime lawyer, turns up at their daughter's soccer game to serve her the divorce papers. Theres no indication that Pudfoot performed at the event. dos units are the brands primary retail vehicle for defining the Gucci image, says De Sole, adding that he always wants 60% to 65% of Guccis revenues to come from sales in directly operated stores. Maurizio was acquitted of tax evasion after he was charged with forging his fathers signature on the stock certificates that transferred Rodolfos shares of Gucci to him following Rodolfos death in 1983. Maurizio made the first move after exclaiming to a friend that Patrizia looked like Elizabeth Taylor. Eileen Kinsella, August 28, 2019 A courtroom sketch of Domenico De Sole on the witness stand with the fake Rothko painting he bought from Knoedler gallery. But Arnault could probably justify the price on the grounds that Gucci is debt-free, throws off close to $150 million a year in free cash flow and will throw off much more cash as the Asia storms abate. Forden's meticulous research involved speaking to over a hundred people, including former Gucci CEO Domenico De Sole and Maurizio's driver Luigi Pirovano. It is said that the last spring collection under the direction of Ford and De Sole was a critical and commercial success for Gucci. For all the noise that is made about Dior, Givenchy, Lacroix, and Cline, none of them are showing any real brand appeal in the luxury market. The fashion heir, nevertheless, finds her attractive. Aldo Gucci passed away on January 19, 1990 at 84 years old. Maurizio Gucci, the First to Dream of a Gucci Luxury Powerhouse, Breaking Down Lady Gagas and Adam Drivers Approaches to Style for House of Gucci, Sign up for WWD news straight to your inbox every day. The Fargo actor plays the current chairman of Tom Ford International, Domenico De Sole, who was previously the president and CEO of Gucci Group. Upon his death, Aldo's will. The true story changed for House of Gucci is that he was gunned down over the steps of his office building, and it happened in Milan. Maurizio tried consolidating power with the help of Investcorp, which provided the equity Maurizio lacked by freezing out his uncle Aldo. De Sole took over Gucci at a tricky time for the company: Having run Gucci America for nearly a decade, he returned to his native Italy in the early '90s to become chief operating officer of the . Helped by strong ready-to-wear and watch sales, last years first nine-month worldwide revenues rose 3.2% to $741 million; net profit for the period rose 3.5%, to $127 million. Theres no way anybody else could have given him that shoe, except Maurizio. In the film, Rodolfo's lawyer Domenico De Sole (Jack Huston) tells Maurizio there's a problem with Rodolfo's willRodolfo forgot to sign the share certificate giving his son 50 percent of the. Toward the end of his life, as he battled cancer, Rodolfo would premiere Il Cinema Nella Mia Vita, or The Film of My Life, in part a documentary about his own life and in part a plea to Maurizio to safeguard the family legacy. He was murdered outside his offices on 27 March 1995. Paolo Guccihad been given a chance to design a handbag collection, but Maurizio reneged on the copyright the day before the launch. On March 27, 1995, Maurizio the family dynasty's final leader was shot dead. According to Fordens book, however, their first meeting happened very differently. Who doesnt make mistakes?. By Rob Bear Feb 15, 2013, 3:30pm EST. While studying for her bachelors in a completely unrelated subject, they started writing about movies and TV shows for an Italian online publication. He was inconsolable.. He had the vision, but if you dont execute the vision, it is meaningless. (Technical note: Gucci is amortizing the nearly $100 million of goodwill created by the Severin Montres acquisition against earnings over 20 years, half the time required by U.S. accounting standards.). Mello brought in Richard Lambertson, head of Bergdorfs accessories department, to be design director and picked Ford to oversee womens ready-to-wear. One of his clients in the early 1980s was Gucci, where he helped with corporate restructuring, and Rodolfo Gucci, a son of the founder Guccio Gucci, enticed De Sole to join in 1984 as CEO of Gucci America. PPR is a French multinational holding company specializing in retail shops and luxury brands that gained ownership of 60 percent of the Gucci Group's stock in 2003. A fashion show gets raided. The oldest son of company founder Guccio Gucci, it was Aldo Gucci who oversaw the brands rise to international heights, becoming a status symbol of wealth and luxury. Gucci sells its products through three kinds of outlets . Video: Do These Outrageous Celebrity Fashion Looks Hold Up? All Rights Reserved. We had a nice chat, a rational conversation. In which case the chemistry would be bad not only between Arnault and De Sole but between Arnault and Tom Ford, too. But in reality, Paolo wasnt manipulated into doing it. Long wanting to be a designer himself, Paolo endlessly fought to use his own name on products, attempting to leverage the Gucci branding for his own ends. Related:Every Ridley Scott Movie Ranked From Worst To Best (Including House of Gucci). Next:Why House of Gucci's Reviews Are So Mixed. Which is why Gucci is now a takeover play. According to the companys latest report, De Sole, Ford and other Gucci executives held options on nearly 3 million Gucci shares; at the current stock price, those options would be in the money to the tune of around $100 million. Tom Ford and Domenico De Sole, credited with turning around the fortunes of the fashion house of Gucci, have said they will be leaving the company. If you want to get Domenico De Sole angry, call Gucci a retailing company. This site is protected by reCAPTCHA Enterprise and the Google. April 21, 2022 . But that's really just the tip of the iceberg. So its very Shakespearean in that regard., One of the films most fiery scenes, in a sea of many, happens when Domenico serves Patrizia divorce papers from Maurizio outside of their young daughters school. (Maurizio was named after Rodolfos screen name, Maurizio DAncora.) Instead of receiving a royalty payment for use of its name, Gucci will now receive all the value its name adds to the watches. Goes Out newsletter, with the week's best events, to help you explore and experience our city. His case was the only one to go to trial. New Lord of the Rings Movies Set at Warner Bros. Mark Wahlberg's $55 Million Mansion Sold to Buyer of Heather Dubrow's Newport Chateau. While Maurizio may have had the vision, he didnt have a grip on Guccis finances. After Rodolfo disinherited Maurizio, the son packed his bags, eventually going to work for Patrizias fathers trucking company. But many felt Ferrs sin lay in an unwillingness to kow-tow to Arnault. Reggiani, who was due to spend 26 years in jail, was freed after 17 years. Both would be paid 600 million lire ($699,870, accounting for inflation). On a scale of laminated-eyebrow drama to Lemon Lady Secrets. While Clark Gable did own a pair of rare Gucci shoes, made specifically for his film Mogambo, it did not have any gold leaf. Ford and his business partner, De Sole, helped Gucci acquire . But if you're watching people be creative, and you're smart, and you pay attention, you can learn a lot. Still, the award for spilling the most tea goes to Domenico De Sole and Santo Versace, who beyond acknowledging the potential Versace-Gucci merger of 1997, reveal that the idea of a merger was . Famously, the tale goes that he was inspired to. Maurizio Gucci would go from reluctantly joining his family firm to ruthlessly ousting his relatives to enact the vision he was convinced would save the company. House of Guccifocusesas much on Patrizia and Maurizio's love story and split as it does on the company. Menu. Sentenced to 29 years in prison for orchestrating her ex-husbands murder, she was released in 2016 after serving 18 years. According to Fordens book, the two actually met at a health spa in Ischia when Patrizia was there with Maurizio, and the two women became fast friends. With such a peculiar cast of characters, to what degree is the films story true? Arnault is chairman and controlling shareholder of $7.8 billion (estimated 1998 revenues) lvmh, the Gallic luxury goods company whose brands include Dior, Givenchy, Lacroix, Cline, as well as Mot et Chandon champagne, Hennessey cognac and Guerlain perfume and cosmetics. Domenico De Sole (born 1944) is an Italian[1] businessman, chairman of Tom Ford International, current director of Acamar Partners,[citation needed] former chairman of Sotheby's, and former president and CEO of Gucci Group. The real story that inspired Ridley Scott's movie has many twists and turns and some of the things shown did not reflect what truly happened. Patrizia had Paola thrown out the day after Maurizio was murdered, filing papers with the court mere hours after the shooting. House of Gucci, Tom Ford and Domenico De Sole - Mimi Tang on the Italian luxury label's Asia success story | South China Morning Post Former Gucci Asia-Pacific head Mimi Tang talks about. Per Forden, Patrizia and Maurizio first met the Neopolitian-native Pina at a health spa in Ischia, an island off the coast of Naples. Reportedly, Arnault declined to renew Gianfranco Ferrs contract as chief designer for Christian Dior in 1996 because the lvmh boss was looking for young, fresh talent. During 1998 the Gucci unit at Harrods in London was completely overhauled, as was the big Atlanta outlet. When De Sole departed, revenues for all of Gucci Group which by then had expanded to include brands such as Yves Saint Laurent, Balenciaga, Alexander McQueen, Stella McCartney and Bottega Veneta were more than $3 billion. I didnt believe it. He had long wondered aloud how Gucci was making record profits but had so little in its coffers. He and Patrizia split in 1985, when he supposedly packed a bag and had a friend tell her the next day that he wasnt coming back. Rodolfo never remarried and doted on Maurizio throughout the rest of his childhood. In 1983, Aldo Gucci, Maurizios uncle, had gotten into serious American tax trouble (Aldo was briefly imprisoned in the U.S.). Patrizia is defiant, and you can feel the disdain and bitterness shooting from Gagas teeth. But Paolo did suspect it was Maurizio who had called the authorities on him. According to Mello, "Maurizio always wanted everything to be round and brown, and Tom wanted to make it square and black." Though Maurizio Gucci wanted to fire Ford, Domenico De Sole insisted that he remain. Chuckling, De Sole adds: We figured we had to do something quick and splashy, because if we didnt Investcorp would panic and sell out. But do what? He was promoted to creative director in 1994. DOMENICO De Sole has described his life as a "quest for independence." The war over Gucci, which is turning out to be protracted and bitter, is another chapter in that quest. But glaring gaps remain. Domenico De Sole was the former CEO of Gucci Group whose tenure brought the company out of near bankruptcy in the 1990s. That was the reality.. Sole Domenico De is the Director of Sothebys and owns about 33,105 shares of Sothebys (BID) stock worth over $2 Million . It was, after all, Tom Ford who had brought the word luxury back into fashion in the mid-1990s, along with a heady dose of sex appeal. Oscar Futures: Whos in the Lead As Voting Begins? Domenico De Sole (born 1944) is an Italian [1] businessman, chairman of Tom Ford International, current director of Acamar Partners, [citation needed] former chairman of Sotheby's, and former president and CEO of Gucci Group . While Patrizia didnt actually receive her divorce papers that way, she did fume with rage at the prospect of her crumbling marriage. As upmarket shoppers again frequented Gucci stores looking for Fords clothes, theyd pick up a new pair of $295 loafers or another $600 handbag. Contrasting pattern ensemble of blue striped blouse and geometric print coral pants from Guccis Spring/Summer 1996 collection by Tom Ford. Before long the part-time job had become full-time, and De Sole was butting heads with Maurizio Gucci, who took over management of the parent company in 1984. The reasons behind these snubs aren't exactly clear, though it could be thatHouse of Gucci's length held it back a little. A love affair ensued. We had to make the brand fly!. A television psychic by the name of Pina (Salma Hayek) plays a significant role. Yet House of Gucci can only strive to capture the larger-than-life aspects of the Gucci family and those in their circle. De Sole tells a story to describe Guccis bleak picture when he and Ford took charge. De Sole has said he wants to spend more time with his wife and two teenaged daughters who live in the Washington, D.C., area, and sailing his 20-meter sailboat, moored in Chesapeake Bay. You\'ll receive the next newsletter in your inbox. Following their divorce, Patrizia was given a hefty alimony by her ex-husband. Nemir Kirdar decided it was time to take some of his investors marbles off the table. His vision led to creative differences with his family. In the latest chapter of a scandal that's jolted New York's art world, a federal jury is hearing about a Chinese immigrant who forged fakes of . That, plus other purchases, puts LVMHs Gucci position at 26.7%. Back in 1993, Gucci had worldwide sales of $198 million, and I thought I could get them up to $350 million, he recalled. In our case, the market treated Asia as if the continent were about to sink under the waters, like Atlantis, and us with it, grumbles De Sole, who says he was already battening down Guccis Asian hatches in April 1997. (Her son, Charly, who was also living there, is not included in the film.) In a Netflix comedy by Katharine McPhees stepdaughter. From very little in 1994, Guccis communications expenditures advertising, mostly, and some public relations rose to $28 million in 1995, to $61 million in 1996, to $69 million in 1997 and exceeded $80 million last year. The final hour of House of Gucci covers his fall and his divorce from Patrizia. Upon being offered a pardon from prison on a work-release program in2011, Reggiani told the judge, "I've never worked in my life; I won't start now." Their sudden departure from the Gucci Group in April 2004 rocked the global fashion business. Domenico De Sole took the stand in U.S. District Court in Manhattan on Wednesday, testifying in front of the fake Rothko that he purchased at the Knoedler Gallery in 2004 for $8.3 million.. 10 of 10 Camille Cottin as Paola Franchi. I think we caught everybody by surprise. A desperate Patrizia asks Pina to find out if Maurizio is with another woman. This email will be used to sign into all New York sites. If the Gucci family era of ownership of the Gucci business might be seen as a Game of Thrones/Succession-style battle, the Italian-born, Harvard-educated attorney Domenico De Sole could be seen as the winner. They tends to like blockbuster movies and indie films alike, depending on the mood. [5] Eleanore Richards "Rickie" De Sole, Executive Fashion Director Vogue.com, married Derek Webster in 2012. Finally, it ends in the year 1995. gucci link to love bracelet. In House of Gucci, Patrizia comically mistakes the fashion heir for a bartender, exposing her lack of sophistication and ignorance of Italys elite. Do Not Sell or Share My Personal Information. That this was a brilliant investment was confirmed by no less a fashion industry entrepreneur than Bernard Arnault. did domenico de sole betray gucci did domenico de sole betray gucci. His lavish spending and lackluster management left the company in a precipitous position when he finally relinquished control. In the scene, he's biking around Quartiere Copped in Rome when someone drawshis attention by calling out, "Doctor Gucci!" The women of, Sam Levinson and the Weeknd Allegedly Turned, Theres No Red Button You Can Push to Stop. By 1993, the familys attorney and the CEO of Gucci America, Domenico De Sole, had sided with Investcorp, forcing out Maurizio. I liked the idea that maybe she is a fraud, except for that one time when Maurizios shagging the femme fatale, Franchi, and Pina gets a real message, a real psychic connection, he told us. Played by Lady Gaga and Adam Driver, Patrizia and Maurizio are part of a constellation of characters in the movie, which also includes Maurizios father, Rodolfo (Jeremy Irons), his uncle Aldo (Al Pacino) and cousin Paolo (Jared Leto), among others. No problems in that department. He was not a good businessperson. Auletta severed ties with her. Gucci now owns and operates 124 stores, twice as many as in 1995, and new ones are sprouting all the time in Milan, Vienna, Zurich, Hong Kong and Tokyo last year alone. Tom Ford first came to Gucci in 1990, when the American-born designer moved to Milan. Domenico De Sole, Tom Ford International. De Sole can be seenat all the Gucci family functions, especially looking over Paolo and working closely with Rodolfo. He is a lawyer by training, but made the transition to the fashion business when Gucci -- one of his clients -- hired him to join the company. If no deal emerges, Guccis stock will probably drift down a bit (its Drs were $70 each on Jan. 20), but it wont collapse. Maurizios dream for an international, prosperous and outward-looking Gucci was realized, and De Sole and Ford outstripped even their own expectations. Later at a bar get domenico De Sole but between Arnault and Tom Ford too! The son packed his bags, eventually going to work for Patrizias fathers trucking company DAncora. As it does on the mood will be used to sign into all New York sites offices on 27 1995. Day after Maurizio was named after Rodolfos Screen name, Maurizio the family dynasty & # x27 s. Behind These snubs Are n't exactly clear, though it could be thatHouse of Gucci covers his and! Filing papers with the help of Investcorp, which provided the equity Maurizio lacked freezing! 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