YSL Setting the Stage for Positive Global Outlook
After years of living in the red, YSL has finally managed to turn the cards around in their favor. In a time when most businesses are closing their doors, YSL announced they broke even in 2008 and are not looking back.
Much of the brands growth can be attributed to product expansion, adding little treasures such as the Muse and the Muse 2 to the marketplace. We can thank the unfortunate circumstance of their business and the brilliance of designer Stefano Pilati for taking the product line from ready-to-wear to ready-to-wear, bags, shoes and small leather goods in order to increase the bottom line.
CEO Valerie Hermann, who took on the headache in 2005 after the brand reported losses of $95 million, only knows working in a crisis filled environment and is therefore unintimidated by current economic conditions. Instead of scaling back business and waiting for the economy to turn around, she is planning for growth and shooting for double digit levels of profitability.
This news could not come at a better time, providing a bit of hope and inspiration for designers and retailers. Leading by example, we are able to look into the future of business and fashion with positivity rather than with trepidation.
Tagged in: ysl, positivity, growth, stefano pilati, crisis, valerie hermann, the muse,
