Caught in a cab.
Tuesday, March 31st, 2009Chic, rich and caught in a Paris taxi, PPR CEO Francois-Henri Pinault was held captive inside the car by Parisian workers for an hour. Reuters and other press reports said Pinault, a billionaire was cornered by angry workers.
Now who could have guessed that Pinault, as head of luxury nameplates such as Gucci and YSL would not be traveling by limousine. But it seems that worldwide resentment against fashion and wealth has no boundaries.
In the U.S., Puritanism and an actively anti-capitalist Congress have put the lid on conspicuous consumption. But in France, it appears that Pinault cut 1,200 jobs in several retail divisions, which caused this recent backlash.