Succession Obsession

39:55he was a legend around here until one afternoon he left and never came back Turns out, Harry went and made himself a website using Squarespace. Used Squarespace domains to buy artisanceatcushions.com. And he built a beautiful site with an online store to sell his artisan seat cushions. Now Harry's sitting on a fortune. And if our Harry can do it, anyone can. Build your business at squarespace.com. Use offer code EVERYTHING for 10 % off your website or domain. Hey, it's Jen Hatmaker. Here's what I've learned in midlife. Joy isn't the reward you earn after all the work is done. Joy is the work. That's what this new series on For the Love is all about.

40:36The sacred yes. It's choosing delight, rest, and pleasure on purpose. Because saying yes to yourself, that's the thing that finally lets you fill your table with everybody else. Come find your sacred yes with me. Follow and listen to For the Love wherever you get your podcasts. okay couple more points on this and then we can move on to to a few other fun topics on delphine and the her success look i don't i i don't know i've interviewed her a couple times i would say out of all of them i know i know of her personality and how she interacts with people oh look i guess maybe more than any of them because she has the biggest job but i would say like from a um she's i don't know she's different she's a woman and there's many reasons like she's just a different character from the other four i personally don't know she wants to be the ceo of lbmh i don't think she thinks like that i think she thinks she wants to succeed and she wants to do a good job and she's extremely intense like the i would say probably maybe frederick's the other one that's as intense like the most intense like i've been in meetings with people where she's calling them like that work technically report her she's calling them calling calling calling calling okay she is on it and she wants to do well and she's you know once she i don't know if she's doing that to run that company.

42:10I don't think she thinks like that because I don't think that women generally are trained or conditioned, even if you're conditioned to succeed and perform, you are not conditioned to think that you should lead a company. Like, I just don't think, and I'm not saying that about Bernard Arnault or how she was particularly raised. I'm talking about just like culturally. The business world. Yes. Like, I just don't think, I think she has been conditioned to be excellent and because i think about it like in my own life like i the way i think i'm never thinking like i want to control a bunch of stuff or manage a bunch of people i'm like i want to do a really good job this week or this year and and i think it's different um do you don't you think that it might be a biggest um strength in the in that race the fact that she basically if she she succeeds at your if Jonathan Anderson works if it works out can it be someone else I think it would be difficult not to give it to her I just I don't think they have even begun to think about who they are going to give it to this is the thing that how it's going to work so so this is the part of it that i think is and why i think those the older kids and the younger kids do need to start getting along more because like this is a huge company that is run by this one is savant like as soon as they understand that like one of them controlling all of it doesn't really make sense i think that they will be able to and and that's why the like the personal stuff look families annoy each other and don't get along as long as they can they need to just like be able to and especially because it's not like any of them are fuck-ups like this is the other part of it like none of them have done anything remotely like there was one of them was dating someone that will not be named because I was like, anytime I got any pushback from that world of you are too harsh on us, I'm like, I never mentioned that the personal life stuff.

44:33But the point being, none of them have screwed up and they probably won't. They're all a bunch of dorks that just want to do a good job. And so it seems unnecessary, so much drama. But yeah, I mean, you have a good point. I just don't know. Does she want that for her life? And I think, and that's where the Neil piece of it comes in, which I think the interesting thing to me, I see him, I first learned, I obviously knew they were married, but I first learned about him probably seven or eight years ago with that startup hub he opened. Okay. Okay. What is it called? I don't know the name. I want to say it's in the 13th.

45:14I've been there many times. Okay. It's a pub, a bar. No, it's a hub. It's like a place for a bunch of startups to work. Oh, you mean Station F? Station F, yes. Station F. Don't judge me. I've been there many times, but he's involved in that, right? Yeah, he does. he's easy yeah so to me he's like a modern entrepreneur ceo and arno kind of represents like the the old garden they're what 20 years apart almost so like it makes sense but it's interesting that she she i also find it interesting when people marry other powerful people so it's like a it's it's not about um she didn't marry a beta who's gonna watch the kids or whatever she married another powerful person and they are would you go as far as saying a very strategy behind it no i'm sure that part i mean we don't know but like maybe not technically but like i don't know if it's a strategy for her to get more power i think it's a strategy to enjoy your life more with someone who understands you and you can i have no idea i don't know anything about their relationship.

46:36I think it's cool, but... In Bernard Arnault's answer, he called Xavier Niel my gendre, which in French is son-in-law, the husband of your daughter. But he put, you know, how do you say it? Quotes? Quotes on gendre. which is a funny thing to do because he's his genre. I mean, you don't need quotes to do. I have to add that to my piece. I didn't notice that. I just saw son-in-law. I did think it was funny that he brought up that Neil owns both, or like part owns both of the papers that have done these investigations. Whereas someone close to Neil reached out to me and said that he does not technically own those things because they're part of a non-profit that he owns okay which i was like okay thank you for clarifying this person it was it was so helpful to me but um but you know obviously arnaud considers him to be a part owner in them which i thought was like a funny yeah i mean i think the question for me for you because like there are differences in culture and humans are humans and when you come down to it it's like human nature is doesn't really change but do you think that arnaud is like enjoying this a little bit or do you think he's really upset like that's the part i can't tell because like i think it's fun and i think it's all good and whatever but like do you think he's actually really upset about it that's the part i can't tell having read a lot of things uh obviously the le mans series but also previous uh books articles etc i think bernardo only opinion only political opinion only feeling only value is what will make me richer.

48:46I think money is only political opinion. He talks to far-right people. He talks to left-wing presidents. He buys art when it can bring him money. Money is the only way of reading Bernardo. So I think if he feels that that succession talk is arming the business, if it creates a kind of insecurity in the company if he gets asked a lot during the annual you know conferences where they announce the results to the shareholders that it hurts the business he won't like it if it doesn't then i don't think he dislikes it very much but i think money is the only way you you can you should read bernardo and it's it's not a judgment it's Why not?

49:38We need people obsessed with money in a country, in an economy. But I really think, I mean, his relation to art, his relation to the business, the fact that there is an important point in the articles. Bernard Arnault is very traditional in his values. He believes in gods, he goes to church more and more since getting closer to Vincent Bolloré. So he's a traditionalist. And it's explained in detail and it's illustrated by a specific story. But he hires designers who are, some of them, homosexuals, who live a lifestyle that he may not be totally allied with, that he may not condemn, cushion in a way.

50:38But they bring him money, so it's all fine. I tell that because there is a specific story told by Picard about Christian Giorg's lifestyle back in the days. Bernardo seems shocked at hearing what he hears about the private life of Christian Giorg. But he brings money in. It's all fine as long as the money is the thing to me. The money is the thing. Yes, you're right. It's in business journalism, they always say follow the money. And that's maybe why he's the most interesting character. And it is interesting thinking compared to the Pinot family. And not just Francois Henry, the dad too. You look at the art at the Bourse and you look at the art at Fondasi and Louis Vuitton.

51:33I like a lot of those shows at Louis Vuitton. But you just can tell the whole thing about the family, just looking at where they put them. Of course, it's a great point. One is commercial, the other is art for fans. Yeah, and look, does that mean anything about the future of either of those companies? I think caring, it means that maybe caring doesn't exist the way it exists right now someday, because it doesn't make sense culturally. because I don't think Pinot is going to be like, we need to keep this because I'll get rich another way. Whereas I think because LVMH is so commercial, that is where, because there are going to be challenges commercially with goods, like when you make things, like they've already experienced it with liquor.

52:25Unfortunately, it's too early in the day to, the first half results are not going to come out till 6 p.m. and that's two more, another hour. So we won't see them. But I think like the wine and spirits is doing a bit better, I've heard. But like, look, that used to be a huge part of the LVMH business. And it's really declined in the last 10, 15 years. So I think what he didn't bet on when he bet, oh, I'm going to take the private equity model, but use the sort of French sensibility of preservation and make these companies huge. And it was such a good formula. I don't know if he bet on the fact that like, by making money off of culture, when culture changes, you also have to change.

53:15And so I think that's the thing that they're grappling with right now. Yeah. I don't know. It's interesting. Difficult to know where we'll be in 20 years, but interesting. Yeah, yeah, we'll see. So I wanted to chat about a couple more things. Speaking of another billionaire private equity person, how much have you been following the saga of Bali since Regent, this Beverly Hills-based private equity firm bought it? Yeah, I mean, you mentioned it to me a few days ago. So I looked, I mean, I had followed them. I mean, other menswear aficionados, other menswear nerds. I worked a little leaflet for Bali with Il Studio, I mean, 15 years back.

54:04So I know the brand quite well from that experience. I loved the idea of having a brand that would make his shoes in Switzerland. switzerland yeah it was it was synonymous with quality so there would be that line of menswear shoes very sleek very pure very non-english less tacky than the italian made shoes so i know the brand and i learned we learned a few a few months back that they were closing the factories in in switzerland making their shoes um i also like the way simone bellotti along with Charlotte Collet. We mention her every time. She's going to hate us. Hi, Charlotte. I know she listens.

54:55Does she listen to it? Yeah, she does. She does. Oh, that's very funny. Sorry, Charlotte. Charlotte should come on sometime. You should invite her. Can you imagine? She'd just be like, no, no, no. I hate that. No, I don't like it. No. Don't do that. Don't do that. I love what they did for a couple of seasons. I think it was like maybe five years ago. So you could see the efforts to try and make it live again, to try and get the brand exciting. But it didn't work, obviously. So yeah, you told me about... But then Simone got a new job and also it went to shit because this guy is, he is like an old school, like 1980s private equity guy, but keep going.

55:48We'll get into it. Yeah, so the brand was brought, when was it, a few years back? It was bought into, it used to be owned by Jab Holdings, which was a luxury sector of a German private equity firm that's owned by the, I believe they're the, their last name is similar to his actually. It's a German jab holdings. It was like, it was their attempt to, oh, it's headquartered in Luxembourg. It's a German conglomerate, but there was like, they had a lug, and they own a lot of food and consumer packaged goods, but it's owned by a billionaire. I believe it's the Reiman family. Okay. It's like a German, yeah, Reiman.

56:38I mean, I've been writing about these people for a long time, But they used to own like Jimmy Choo and they own Bali and they tried to do a luxury thing. But then they decided we're just going to do food. They own like Pete's Coffee and Tea. They do own a steak in Cody, apparently, according to Wikipedia. I don't know if that's still true. But they own like, you know, those pods that you make coffee. Okay, I see. They own like a lot of the Keurig, which is a big one. But they owned it for a long time. and that's when when they hired that guy what's his name who does that brand rude with an H oh yeah yeah I don't remember the family name hang on Ruigi Ruigi who is like yeah he's a very funny character I interviewed him at the Chateau Marmont when he first started there because he changed the logo and he's and he was he told me the story of how he got started in fashion which was that he would buy vintage stuff and get a tag from a designer and resell it he bragged to me about this it was amazing i was like you know good for you and resell it on ebay and that's how he got into fashion i actually like personality wise that guy was great the collections he did at ballet were completely in like just the worst thing ever it was so bad and and they had at some point they hired simone to like work under him and i think because simone worked at gucci for alessandro when alessandro left they all needed to leave and so he just took this job okay and he worked under this richie guy and then then they and this job still owned it and then ruigi got fired because he was like taking a private jet on ballet money yeah i don't remember i don't want I don't allegedly I don't know guys I don't know who has never taken a jet for his private company I really need to I really want to fly private once I still haven't done it I've been offered some rides but I have not been able to participate but um and then Simone was amazing and he and Charlotte and like it was so great and everybody was like oh my god this is magical but I think that they were the brand and maybe the first collection was the one that really brought back the boat shoes desire.

59:09Oh, yes. A hundred percent. The whole reason. It's them that it became so big after you saw Mew Mew, all of them. I think it went back with them. Totally. It was a hundred percent that boat shoe that did it. So then that's when this character in Beverly Hills, Regent, decides to buy it. I think Jabba had been trying to sell it for years, and I think they saw the sort of excitement around the brand. Here's the thing about this Regent. I've dealt with him many times. I've emailed this guy a million times. He never responds to me. Maybe he will now because now he's in the public eye in a different way.

59:49but um he they bought intermix which was like they sold like contemporary price point clothes it was like a a very cute little boutique chain in america that was weirdly owned by gap inc that should have never owned it they bought that they own club monaco they bought that from ralph lauren it's a very weird company because have you ever seen the movie pretty woman of course so So this is how I learned about private equity as like I was as a six year old inappropriately watching Pretty Woman. In Pretty Woman, Richard Gere runs a private equity firm and he says, I buy companies and then I break them off and sell them for parts.

1:00:33And this is this guy, this, I forget his name. Is it Regent Michael Reinstein? It's interesting. Reimann Reinstein. So he, Michael A. Reinstein. So he, like, he buys these, it's not, there are so many private equity firms now that are like, they want to build up these businesses and sell them for more money. Like if you're Alcaterton, you buy something for 40, you buy something that makes$40 million a year, you want to get it to 500 million a year in sales. So you can, this week, Reformation is going to IPO. so Primera bought it for a certain amount. They're going to IPO it at a billion. They're going to make tons of money.

1:01:16This guy doesn't work like that. He basically sucks these things dry and just lets them limp along. And I don't understand. So Intermix, I think, doesn't exist at all, but for years it was still like you could buy stuff on the website. Club Monaco still exists, but it's like feels half of what it was what is the point to him yeah this is the question that i've been wanting to ask him for years and i knew when he bought it i was like this is never like this is bad like there's no the the project with simone always felt like it was not it was too good to be true it was like magical we thought we got shoes yeah no it never like it there was no way it was going to he was always going to get a different job like there was no way that that would last but i was like why do you do this they started immediately started closing stores and they closed like the meatpacking store and then they would open them in weird places and it was it was like everything that was working they would go against and i remember even thinking like are they gonna even let him do a show and they did he did shows up until the end and it seemed like they like they gave them the same i don't know if they give them the same budget for the for the last shows but like i remember the last show and he didn't do a backstage interview and it was like this is the end of it or whatever but um the point being that like right now someone messaged me and said oh there's nothing on the site it's all on sale and I looked and there is some product that's new.

1:02:57So he's still producing stuff. Obviously not in Switzerland. It's like this very classic, more classic, but bad. But I guess the question for you is because I remember talking to Luigi about it. And now when we think of Bali, like no one, everybody just thinks of Simone and the boat shoe and like what and the bells on the bags and all that stuff. But like that was such a short-lived period. And that brand, I remember talking to Ruiji about it. And he was like, my dad wore them. And it was like a businessman shoe brand, right? Can we talk a little bit about the heritage of it just for like 10 minutes?

1:03:37You know a lot about it. It was a very classical shoe brand. And I do remember from writing for them at some point 15 years ago that what they would care about would be the way you do your shoe carrying, the way you wax your shoes, what kind of product should you use, what kind of laces. So it was very much your standard English-inspired bench-made shoe brand. And they were well-made. they were not as heavy as the English shoes, but better made than most of the Italian made shoes. So it was very classical. They wouldn't, at the beginning, they didn't do closing. They would only make shoes for both men and women.

1:04:31So yeah, to me, it was very classical. They tried, they went. It's difficult when you do, I mean, there have been a few examples of brand shoe, classical shoe brand trying to go for the whole line of clothing, the clothing, shoes, accessories, etc. You can only mention Berluti, who in a way was the same kind of story. Our classical shoe brand can become a fashion brand. But yeah, Berluti is obviously a big failure. Yeah, I mean, it's a bit of a shame. Look, so the reason we're talking about this guy, I buried the lead, is he's dating Nicole Kidman. Finally, you tell everyone why you want to talk about it.

1:05:17But this is the thing I keep getting. Last week, all I get is like, did you see that guy who owns Bally's dating Nicole Kidman? You have to write about this. And I'm like, ugh. Do you think, Loren, that the whole point of buying those brands for that guy was meeting Nicole Kidman? Maybe. Maybe, or just to date, because the other weird thing was at one of the ballet shows, not the last one, the second to last one, Cheryl Hines showed up and she was wearing head to toe Simone Bilotti, which like, let me just tell you. The like curvy Mary Jane, a red Mary Janes, a skirt, a white shirt. Like it was amazing.

1:05:56And I was like, what the fuck? It was the week that all the stuff about Olivia Nuzzi and Robert F. Kennedy Jr. had come out. And I had to go and ask her about it. I was like, she wasn't wearing her wedding ring. I didn't notice. And I was like, this is why I don't have good attention to detail about stuff like that. And like, but he invited, apparently he was friends with her. Like, I don't know. I want to do a bigger story on this guy. So just, sir, be aware I'm on you. He goes to women and say, you know that I owns Bali. I think they'd be more impressed with Club Monaco I don't know It's so random though It's just like the weirdest story I really want to do a bigger story on him Yeah, we need more information Yeah, you know, Mr.

1:06:44Reinstein Please reach out to me I've emailed you many times I've asked your PR people I would love to have a coffee I'm in LA until the end of August Let's hang out I don't care that you're dating Nicole Kidman. But it's just the whole thing is I cannot make this stuff up.

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1:08:19Congratulations. I mean it. Buyers rejoice. Buy your car today on Carvana. Limitations and exclusions may apply. See our seven-day return policy at Carvana.com. I want to talk to you about the recent special issue of Letiquette, where you are the founder of Editor and Chief. But one more celeb thing that I want to ask you about. Yeah. There has been a big, and Malik and I talked about this last week, the big like odyssey tom holland zendaya yeah thing i love i think zendaya is amazing i love la roche i think they're really fun yeah i think she has looked absolutely ridiculous in the last few looks and i posted something about this tom holland was wearing and i honestly don't it may not have beenst loran he was wearing like ast loran-esque suit and honestly he looked yeah he look like um bugsy or something like you look fine whatever i it's fine she is wearing she was wearing sorry to do this because i love stewart beavers and i actually know the person that does the celebrity design stuff too and is amazing so sorry guys but she was wearing this like ridiculous cartoon outfit of like a red shirt and tie and white shoes and she just they look like idiots i just cannot take it but i am very i am curious what you think about i am you have a gun no you no no i mean every the the there are two points in in that question the one thing is should you dress as your partner or as close to what your partner is wearing and i think it's it's partly one it's one of the problem in that picture that they both are wearing ties Yes.

1:10:05She isn't wearing a jacket, but there is still this idea of having a matching look, which obviously is as cringe as the Gdavier Niel show. But apart from that, I mean, we have been at Lettiket big advocates for girls wearing ties. and we like the idea behind it. I mean, the idea is obviously, you know, taking a totem of the menswear wardrobe to make it your own. But it needs to be done in a way, it needs to be precise. It needs to, there needs to be some kind of humor to it. I mean, I think it works a bit better when it's not too literate. tie wearing for men is very rules orientated you we there is a specific length to it the the the the tie that the there is a way of tying it which should be very precise it should the the width of the tie should align with the width of the collar so there is there is there are a few rules about wearing tie and i think women are better when they twist it when they make it their own when it's it's tucked in the shirt when the shirt is is a bit open when it's done with jeans i personally prefer it when it's a bit you know twisted yeah she was very very first degree first I mean, very, very, she wore it in a too normal way, maybe, if I may.

1:11:47Yeah, too normal. Yeah, a person who we've previously mentioned several times on this podcast messaged me after I posted about it and said, bad proportion. Like, the proportions were off. I think, look, I am not, I think Lolita Jacobs, your fashion director for Let's Get Women's, looks great in a tie. I think Willa Bennett looks great in a tie. I think generally it's very hard to pull off if you don't have great personal style. And I think the thing about Zendaya that's interesting is she is gorgeous. She has an amazing body. I'm a huge fan. I like her a lot. She obviously really trusts law and she often looks amazing.

1:12:29She has no personal style. You can just tell. It's like Jennifer Lawrence doesn't know shit about fashion and doesn't care. I mean, they know. it's probably why it works with low roch i mean she let him do the work as he doesn't have an opinion about it totally i mean she won't go against him totally so yes so that is i i think it didn't work and i think like when it goes to costume he messes up like when it goes to costume which this did and you're right if if tom had been wearing a more casual outfit and she got this the tie was right then it could have worked well but it was because they two ties were one ties one tie too much yes um okay so let's talk about ties and iconic ties in your um 100 icons of french design which is available on newsstands now yeah it is it is it's sold out online it's yeah it's sold out on physically on our website but you can still buy digital or find it in in shops so it was a fun project that we we had we basically listed the 100 pieces um icons of french style so it goes from ties shoes jeans uh apc jeans charvet ties um you have sprinkled sneakers you have things that are of use and also things that you might learn discover in in letiquette which is obviously one of the things we like we like to do in in all our publications make people discover stuff um all our choices were made based on taste on not on advertising we resisted selling the pages to to people so you it wasn't sponsored by someone no no well we did have some pages of advertising but it was i just assumed it had like one big sponsor no no no we we suddenly well we didn't you're a real journalist mark no well it depends but on that occasion yes we were um so basically yep i love least i love um 100 of anything yeah so it was it was it was just a little thing that we we did for summer and people seem to like it which is always to me amazing and and even touching and it's it's we we do it with passion we've hurt we we are not gonna be rich anytime it's okay it's very european way french way of thinking you think well half not if you're a bernard or no no um no it is interesting to me how much in europe people do not money is not the main driver of what they do because in America literally everything is driven by money if you're under 45 like I think we always talk about we have a lot of borderline Gen X Millennials at Puck like a lot of us are okay there are many of us who are 43 44 45 and there is a difference of like I'm gonna do this because I really like it or I'm gonna do this to make money and I think we're the we're of like a borderline of we want to we want both we want to do the thing we want to do but we also want to make a lot of money because it's just like life here is just driven so much more by money like my life in los angeles is so much more expensive than my life in paris just because like we have two cars i mean life is expensive in the u.s it's crazy like you don't if you the to go out to eat for breakfast to go to squirrels 100 bucks like it's just so do you find life in paris very inexpensive in comparison i feel yes i mean i don't it's like crazy that's why i keep i mean i you know i'm on a shopping freeze that's why you are saving money by living in paris so you can shop yeah but i mean it's yeah it's so much it's not cheap look like especially when you're buying phoebe filo bags that get get stolen in the milan um metro but um for real yeah that right after you know it's so funny but that sunday night well i mean sunday night i was gonna go get ice cream and i was so excited and it got stolen on the metro no for real yeah my passport that's why i wasn't at half of ments because i had to go back to america to get a real passport it was a huge yeah i try i like i didn't want to jinx it because it was such a i had to go to london for a puck event and you cannot return to the schengen with a temporary i had an emergency passport and if we were staying until the end of our trip like i could have traveled in the schengen with an emergency but once you leave the schengen they will not allow you to return with an emergency passport if you're an american citizen so i had to go back to new york to get a 10-year passport it was like so i miss celine it was really sad so so you can we can say that milan uh thief robbers have amazing taste they identified your your five-year-feel bag no i mean what happened was I was being an idiot and didn't have why did I have my passport why did I have my Phoebe Philo bag not in my laptop bag why was I carrying it's just the whole thing I was a stupid but the craziest part of it is my headphones are at the police station in Milan and I've had I've called them many times i've had two people one who speaks italian okay one who is an italian go and try to get this bag for me and all they tell them is we'll call her or at least be like they're like they have pictures of my passport they're like this is person so if anyone has any connections to the Milan police because I am not going to be there until September 22nd or 21st and I need someone to help me get my PPE philo bag back.

1:19:04You're talking about it on the podcast so the brand sent you another bag or not? No. No, first of all, I wouldn't accept it but also they're not doing that. They will hear this but like someone will hear it but they won't do it but I would take a very heavy discount on my my glove sway glove maybe maybe another brown sends you a bag oh my god gift um i i'm i can't be bought so the the final question for on the i love the oh the thing i wanted to tell you about the the 100 icons i posted a couple photos the one of the what is the handbag the the tote bag brand that... Oh, the green one? Yeah, what is it?

1:19:53What's that brand called? Hervé Chapelier? Yes. Yes. Hervé Chapelier, that's how I think I would say it. Very French. I own a couple of them. I love them. They're so great. Yeah, I mean, they're so 90s. They were very big in America also during the era of... In the 90s and 2000s, during the era of Vera Bradley, which has gotten a lot of play, Even though I know the Celine bags, so many comments about how the Michael Ryder, the Calico mix are based on a French brand, whatever. They are also Vera Bradley vibe. And Vera Bradley is this like Midwestern brand that preppy sorority girls would wear these Calico mix print.

1:20:35The Hervé Chappellier bags were popular during that time too. I didn't own them then, but I have a couple. I have like a mini one. And then I, one of them is a common carry on, but I posted it and the one that you, the green, the mixed green and so many, I got so many comments on it. Oh, cool. Yeah. It was great. I thought it was interesting because it's like, what would the American ones be? Like you had the Lacoste polo, not the Ralph Lauren polo. Like it was an interesting, I thought it was nice that it was partially in English too, but will you do it for women's? I feel like you should yeah someone you had on your podcast recently asked me if we could do the American list together oh fun it could be a good idea to do the American 100 pieces I love it but women's we're gonna I mean it's it works well people like it and it's economically stable so we are gonna do it again great well I love it I love La Tiquette everybody I think it's still, you can still find it if you live in a place where there are physical magazines.

1:21:48Yeah, news agents, yeah. And what I must say is that people from the U.S. or outside of France seem to recognize the magazine more and more. And it's a slow process. And we want it to be slow but stable in the future and good. So you're not taking investors right now? I mean, I don't think any investors say, I mean, the guy who owns Bali wants to buy the tickets. No, he's not allowed. Okay, we will say no to him. Mark, this was great. Thank you for taking so much time. Happy summer and I'll see you in Paris. Thank you. We'll see you soon. Fashion People is a presentation of Odyssey in partnership with Puck.

1:22:37The show is produced and edited by Molly Nugent. Special thanks to Puck co-founder John Kelly, executive editor Ben Landy, producer Maya Tribbett, and director of editorial operations Gabby Grossman. An additional thanks to the team at Odyssey, Kelly Turner and Bob Tabador.

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