From the looks of Stefano Pilati's collections for Yves Saint Laurent, one would never assume that the brand remains in the red as far as revenue goes. It has been that way since Gucci Group took control in 1999. YSL reported revenue of about $261 million in 2006, but it also had losses of $66 million that same year. That was, however, an improvement over the prior year, when it lost $89 million. When considering Stefano's predecessors Tom Ford and Karl Lagerfeld, it's not that surprising - he had some big shoes to fill!
The good news is that his Fall 2007 line, due out in stores in mid-June, is looking promising. This time around, Stefano let loose and stayed true to the YSL history of elegance and ease. If you can recall, prior seasons with Stefano had displayed jarring silhouettes and stuffy styles like formal collars.
Most importantly, the accessories and handbags have been selling like hotcakes; they account for more than half of the business. Sales were up in 2006 by 19.1 percent over the previous years thanks to the leather goods.
To see some of YSL's Fall/Winter '07 collection, read more