David Rosenthal: belief

Transcript context

…You could. You would need it to be bad for 60-plus years because I think you needed to be bad for an entire human lifetime adult memory. I think some of the reasons why Gucci survives is because even if you don't know Gucci being good in the last 10 years, there are a lot of people alive who recall it being something prestigious. But yeah, they're hard to destroy. I think the likelihood that that would happen is extremely low, because whatever company is currently managing that brand, would go bankrupt at a certain point, or would change control or whatever. There's just too much incentive now for somebody outside to come in, buy it, and resuscitate it. And the shelf life is so long. I think you're right. You would have to have a dormant period of a human lifetime to permanently kill one of these brands. That was certainly the case with Dior that Bernard I think recognized more than anybody else. Yeah. Going back to the question of how did he build so much wealth in this period of time without starting as 100% equity owner of something, which is how founders get wealthy, I think the Dior transaction and him being correct in how much value there was in the Dior brand and all the assets he could sell off, that was a huge multiple very quickly. I think he went from a net worth of $15 million to a net worth of… Actually, we can do this calculation, because when was he worth $800 million from his share in LVMH?…

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