Assign a 'primary' menu

Doing F.I.R.E.? Please meet François-Henri Pinault | by LiWithoutE 🍫 | Dec, 2021


Now back to business, allegedly François-Henri purchasing Puma and Volcom was a bad decision, he was aiming to expand his target market by tapping outside the luxury goods and making available lower end goods to the wider customer base of Kering. After spending circa $1billion on both brands, it seems that the brands while popular they have not returned his investment yet. This is where even money sometimes cannot guarantee that your strategy will work, while it helps, it is still important to put in the time to understand where you are getting yourself into even if you have the cash to tap into something different.

For legacy to prevail one must be financially savvy, and knowledge hungry.

François-Henri doesn’t just settle for selling luxury goods, he owns real estate, his portfolio consists of properties across the globe. He also owns homes in different parts of the world, including an expensive home in London and one in France. François-Henri has also invested in cars and jets for personal use. I guess you do have to invest and enjoy.

One thing to note is that François-Henri gets involved with what happens with every brand that now forms part of the Kering Group, he joins board meetings, helps with the decision making, proposes ideas and reviews strategies before they are implemented. According to Google anyways, even if it’s not completely true, I do believe that a good businessman hires people who know more than them, and an excellent businessman gets involved with the business planning along the way.

François-Henri sold electrical equipment in Africa before, what does this tell you?

Tap into new markets, go to places where your product and or service can be of value, make use of natural resources, and of course target a rich land.

The business reshuffled their priorities and focus when they acquired Gucci and YSL, it opened a new world to them, one that has proven to be very profitable. One thing I would like to read more about is their partnership with Cartier, and how this impacts Richemont, that would be another interesting F.I.R.E. topic.

Lesson learned? Buy or set up a business and strategise towards acquiring a successful brand to help you expand.

But first and foremost, no matter how rich, go to school and tell your rich (or soon to be rich) children to go to school.

Knowledge empowers you and those after you.

François-Henri was born with silver and gold spoons as well as coins and bars, and still graduated from HEC School of Management, did an internship as a data base-software developer, joined the military before studying and venturing into other markets. All before he joined the family company in 1987; he gained experience outside which helped him broaden his understanding of business and entrepreneurship. He did have the option to do nothing and be a spoiled rotten rich kid with no purpose, but the family had a better plan for them and him, and as you probably can tell by now, learning was and is at the heart of everything. You can’t tap and succeed into new markets without taking time to learn and enhance your own skills.

If you have an hour to spare, grab a book, or jump online and read the financials of Kering.

If you aren’t into art already, change your mindset, because when the millions start rolling in you will want to expand your portfolio. François-Henri father owns an art collection valued at circa $1.25 billion, I won’t be surprised if the family does open their own museum to the public to earn even more from the art collection and that’s if they haven’t already, I haven’t checked this yet as I am not interested in art as much now but maybe someday.

Out of curiosity, would you pay £5 entry-fee to look at the family’s 3,500 art collection?

Between goods, services, real estate, gold, silver, and shares, what are your portfolio goals while doing F.I.R.E.?

On another note, you may not want to learn French, learning a new language is also key when doing F.I.R.E., you just never know where you may end up living, providing services or sourcing the goods you will sell from.

Source link

Why Affiliate Marketing is the perfect home business to do, minimal costs, easy to start.

About the Author