Robert Polet
Encyclopedia
Robert Polet is the CEO of Gucci Group and formerly worked as the president of the ice cream and frozen foods division of Unilever
. A self-described "modern gypsy", he moved frequently from country to country and his international experience was one of the attributes the Gucci owner, PPR
, was looking for at Gucci's CEO position. He won the 2007 Fortune European Businessman of the Year
award by Fortune Magazine
.
, Malaysia in 1956, went to school in Britain
, the Netherlands
, and Oregon
, and was sent by Unilever
to Paris
, Milan
, Hamburg
, and Malaysia.
He studied business at Nyenrode Business Universiteit
in Breukelen
and later earned his MBA at the University of Oregon
in 1976.
After receiving his MBA, he joined Unilever
in 1978 where he worked until 2004 at various positions. He worked in global management, marketing, and was the president of the Malaysia division and later the president of the ice cream and frozen foods division. He joined Gucci
in July 2004.
Robert Polet is married and has two daughters, Anne-Christine and Francine.
pioneer liquid margarine, going forward with his ideas while his boss at the time was reluctant to do so.
Polet credits his experiences at Unilever
for helping him grow. He was directed to head operations in Malaysia when he was 35. The situation he faced was grim, laden with problems with stagnating revenues, low profits, and a dysfunctional board. Once, facing a difficult situation, he asked the Unilever head office for advice on how to proceed and was told simply to list his available options and choose the best option. Of the situation, Polet said "It's only by going through tough experiences that you can grow."
He encourages the people working under him to break rules and to go outside the box
. He prefers a hands-off managing style and let his employees operate without interference. When he left Unilever, he said that he felt he no longer had the entrepreneurial freedom he required. At Gucci, he leaves design decisions to the designers of the respective departments, much unlike how previous executives worked.
as the president of the ice cream and frozen foods division of the company prior to accepting the CEO position at Gucci
. Due to the stark differences between the industries, when Robert Polet took the reins of Gucci in July 2004, he was received with much skepticism and doubt in the fashion industry and was the target of several jokes in the media. Many executives in retail in New York City
were confused with the choice and have stated that success in the fashion industry is forged by relationships, something that Polet was severely lacking, being an unknown in the industry. Analysts' positions were varied. Some said that bringing someone with no fashion experience was a big mistake while others pointed out that several other companies like The Limited and Abercrombie & Fitch
have sought managers from outside the industry with highly successful results.
He was selected by a team at PPR
led by its CEO Serge Weinberg
to succeed Gucci's former CEO Domenico De Sole after PPR decided not to renew his contract despite rescuing Gucci from bankruptcy in the early 1990s. While the Gucci line has been successful, the nine subsidiary labels the company owns have been doing poorly and have been losing money. Gucci's net income in the fourth quarter of 2003, half a year prior to Polet's hiring, has been solely from its primary line and its growth was less than predicted.
In October following his hiring, he detailed his plans for Gucci in front of hundreds of the top PPR executives in Lisbon
. He talked about reorganizing the structure of the company, doubling its size, and increasing profit margins. Per his family-oriented character, when the floor was opened to questions, Polet apologized and left for the airport to catch his daughter's birthday. At this time, skepticism still clouded his hiring and many executives were left disappointed.
He employed his hands-off management philosophies at Gucci and let the designers do their job without executive interference. He also employed some strategies more specific to the situation. Prior to his hiring, Gucci let Tom Ford
, the principal designer that turned the Gucci line around, go along with the previous CEO. However, Polet stressed that the Gucci brands should be the primary focus instead of the designer since the brand can far outlive the designer. The designer was to serve the brand and not the other way around. He also moved to assign a business manager and creative manager to each line under Gucci, which allowed more freedom per product line.
Three years later, Gucci's sales and profits grew even faster than Polet's ambitious plans outlined at the convention in Lisbon. All of its lines which were previously losing money became profitable except for Yves Saint Laurent
though its losses have been cut by two thirds. The operating profit margin went from 10% to 16% within the three years. PPR's stock which fell on the news of Polet's hiring, rose 50% since until 2008.
However, some critics said that the numbers were residual successes of Polet's predecessors and that Gucci's fashion had declined, which will lead to future losses. Mark Lee, the head of Gucci's flagship line disagreed, and asserted that sales were still surging ahead with new designs.
Unilever
Unilever is a British-Dutch multinational corporation that owns many of the world's consumer product brands in foods, beverages, cleaning agents and personal care products....
. A self-described "modern gypsy", he moved frequently from country to country and his international experience was one of the attributes the Gucci owner, PPR
PPR (company)
PPR is a French multinational holding company specializing in retail shops and luxury brands. The company was founded in 1963 by the businessman François Pinault and is now run by his son François-Henri Pinault. It is quoted on Euronext Paris and is a constituent of the CAC 40 index...
, was looking for at Gucci's CEO position. He won the 2007 Fortune European Businessman of the Year
Fortune European Businessman of the Year
Fortune magazine gives an annual award for the person it considers to be the European Businessman of the Year. Fortune is based in the United States, but it has a European edition which features this award prominently. Currently the award is announced in January for the preceding calendar year...
award by Fortune Magazine
Fortune (magazine)
Fortune is a global business magazine published by Time Inc. Founded by Henry Luce in 1930, the publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner. In turn, AOL grew as it acquired Time Warner in 2000 when Time Warner was the world's largest...
.
Biography
Throughout his life, he had moved internationally frequently. He was born in Kuala LumpurKuala Lumpur
Kuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...
, Malaysia in 1956, went to school in Britain
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
, and Oregon
Oregon
Oregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
, and was sent by Unilever
Unilever
Unilever is a British-Dutch multinational corporation that owns many of the world's consumer product brands in foods, beverages, cleaning agents and personal care products....
to Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
, Milan
Milan
Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
, Hamburg
Hamburg
-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
, and Malaysia.
He studied business at Nyenrode Business Universiteit
Nyenrode Business Universiteit
Nyenrode Business Universiteit, also spelled as Nijenrode, is a Dutch business school and the only private university in the Netherlands. Founded in 1946, it is located on a large estate in the town of Breukelen, between Amsterdam and Utrecht.-History:...
in Breukelen
Breukelen
Breukelen is a town and former municipality in the Netherlands, in the province of Utrecht. It is situated to the north west of Utrecht, along the river Vecht and close to the lakes of the Loosdrechtse Plassen, an area of natural and touristic interest...
and later earned his MBA at the University of Oregon
University of Oregon
-Colleges and schools:The University of Oregon is organized into eight schools and colleges—six professional schools and colleges, an Arts and Sciences College and an Honors College.- School of Architecture and Allied Arts :...
in 1976.
After receiving his MBA, he joined Unilever
Unilever
Unilever is a British-Dutch multinational corporation that owns many of the world's consumer product brands in foods, beverages, cleaning agents and personal care products....
in 1978 where he worked until 2004 at various positions. He worked in global management, marketing, and was the president of the Malaysia division and later the president of the ice cream and frozen foods division. He joined Gucci
Gucci
The House of Gucci, better known simply as Gucci , is an Italian fashion and leather goods label, part of the Gucci Group, which is owned by French company PPR...
in July 2004.
Robert Polet is married and has two daughters, Anne-Christine and Francine.
Management philosophy and style
Never having been one to adhere to rules and protocols, Polet had on numerous occasions strayed outside the boundaries of established practices and directions given by his superiors. This attitude had helped UnileverUnilever
Unilever is a British-Dutch multinational corporation that owns many of the world's consumer product brands in foods, beverages, cleaning agents and personal care products....
pioneer liquid margarine, going forward with his ideas while his boss at the time was reluctant to do so.
Polet credits his experiences at Unilever
Unilever
Unilever is a British-Dutch multinational corporation that owns many of the world's consumer product brands in foods, beverages, cleaning agents and personal care products....
for helping him grow. He was directed to head operations in Malaysia when he was 35. The situation he faced was grim, laden with problems with stagnating revenues, low profits, and a dysfunctional board. Once, facing a difficult situation, he asked the Unilever head office for advice on how to proceed and was told simply to list his available options and choose the best option. Of the situation, Polet said "It's only by going through tough experiences that you can grow."
He encourages the people working under him to break rules and to go outside the box
Thinking outside the box
Thinking outside the box is to think differently, unconventionally, or from a new perspective. This phrase often refers to novel or creative thinking....
. He prefers a hands-off managing style and let his employees operate without interference. When he left Unilever, he said that he felt he no longer had the entrepreneurial freedom he required. At Gucci, he leaves design decisions to the designers of the respective departments, much unlike how previous executives worked.
Gucci
Robert Polet spent most of his career at UnileverUnilever
Unilever is a British-Dutch multinational corporation that owns many of the world's consumer product brands in foods, beverages, cleaning agents and personal care products....
as the president of the ice cream and frozen foods division of the company prior to accepting the CEO position at Gucci
Gucci
The House of Gucci, better known simply as Gucci , is an Italian fashion and leather goods label, part of the Gucci Group, which is owned by French company PPR...
. Due to the stark differences between the industries, when Robert Polet took the reins of Gucci in July 2004, he was received with much skepticism and doubt in the fashion industry and was the target of several jokes in the media. Many executives in retail in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
were confused with the choice and have stated that success in the fashion industry is forged by relationships, something that Polet was severely lacking, being an unknown in the industry. Analysts' positions were varied. Some said that bringing someone with no fashion experience was a big mistake while others pointed out that several other companies like The Limited and Abercrombie & Fitch
Abercrombie & Fitch
Abercrombie & Fitch is an American retailer that focuses on casual wear for consumers aged 18 to 22. It has over 300 locations in the United States, and is expanding internationally....
have sought managers from outside the industry with highly successful results.
He was selected by a team at PPR
PPR (company)
PPR is a French multinational holding company specializing in retail shops and luxury brands. The company was founded in 1963 by the businessman François Pinault and is now run by his son François-Henri Pinault. It is quoted on Euronext Paris and is a constituent of the CAC 40 index...
led by its CEO Serge Weinberg
Serge Weinberg
Serge Weinberg is Chairman of Weinberg Capital Partners, an investment firm.He was the founder and chairman of Weinberg Capital Partners, an investment firm....
to succeed Gucci's former CEO Domenico De Sole after PPR decided not to renew his contract despite rescuing Gucci from bankruptcy in the early 1990s. While the Gucci line has been successful, the nine subsidiary labels the company owns have been doing poorly and have been losing money. Gucci's net income in the fourth quarter of 2003, half a year prior to Polet's hiring, has been solely from its primary line and its growth was less than predicted.
In October following his hiring, he detailed his plans for Gucci in front of hundreds of the top PPR executives in Lisbon
Lisbon
Lisbon is the capital city and largest city of Portugal with a population of 545,245 within its administrative limits on a land area of . The urban area of Lisbon extends beyond the administrative city limits with a population of 3 million on an area of , making it the 9th most populous urban...
. He talked about reorganizing the structure of the company, doubling its size, and increasing profit margins. Per his family-oriented character, when the floor was opened to questions, Polet apologized and left for the airport to catch his daughter's birthday. At this time, skepticism still clouded his hiring and many executives were left disappointed.
He employed his hands-off management philosophies at Gucci and let the designers do their job without executive interference. He also employed some strategies more specific to the situation. Prior to his hiring, Gucci let Tom Ford
Tom Ford
Thomas Carlyle "Tom" Ford is an American fashion designer and film director. He gained international fame for his turnaround of the Gucci fashion house and the creation of the Tom Ford label before directing the Oscar-nominated film A Single Man.-Early life :Tom Ford was born August 27, 1961 in...
, the principal designer that turned the Gucci line around, go along with the previous CEO. However, Polet stressed that the Gucci brands should be the primary focus instead of the designer since the brand can far outlive the designer. The designer was to serve the brand and not the other way around. He also moved to assign a business manager and creative manager to each line under Gucci, which allowed more freedom per product line.
Three years later, Gucci's sales and profits grew even faster than Polet's ambitious plans outlined at the convention in Lisbon. All of its lines which were previously losing money became profitable except for Yves Saint Laurent
Yves Saint Laurent (brand)
Yves Saint Laurent or YSL is a luxury fashion house founded by Yves Saint Laurent and his partner, Pierre Bergé. Today, its chief designer is Stefano Pilati. Yves Saint Laurent, founder of the brand, died in 2008.-History:...
though its losses have been cut by two thirds. The operating profit margin went from 10% to 16% within the three years. PPR's stock which fell on the news of Polet's hiring, rose 50% since until 2008.
However, some critics said that the numbers were residual successes of Polet's predecessors and that Gucci's fashion had declined, which will lead to future losses. Mark Lee, the head of Gucci's flagship line disagreed, and asserted that sales were still surging ahead with new designs.