In 1999, following a lengthy takeover battle with rival luxury titan LVMH Moët Hennessy Louis Vuitton, Gucci Group became allied with François Pinault, one of the richest men in France. Gucci Group is now controlled by the Pinault family, whose public face is PPR, the French retail and luxury group.
Fueled by a $3 billion influx of cash from Pinault, Gucci Group went on a spending spree. Yves Saint Laurent was its first purchase in 1999, followed by Bottega Veneta (leather goods), Boucheron (jewelry), Sergio Rossi (shoes) and part ownership of the design houses of Stella McCartney, Alexander McQueen and Balenciaga, which is run by Nicolas Ghesquière.
Vice-President Xi urges better labor relations
Vice-President Xi Jinping on Aug 16 said that building harmonious relations between workers and their employers was an important and urgent political task.
He said workers' economic, political, cultural and social rights must be protected. [Full story]
China mulls amendment to law on work-related illnesses
A business leader in South China's Guangdong province has called for better popularization of labor laws among migrant workers and local businesses to avoid social unrest from labor disputes. [Full story]
More arbitrators needed as labor disputes soar
China needs more arbitration centers to protect employees' legitimate rights and sustain steady and rapid economic growth, a senior official said in June. [Full story]
Trade unions set wage talks target
Unions will introduce collective wage negotiations by 2013 in at least 95 percent of enterprises set up by Fortune 500 companies operating in the country, a senior union official said. [Full story]
Unpaid workers recover wage with govt help
China's labor department, the Ministry of Human Resources and Social Security, announced in May local labor authorities helped recover due wages and other benefits worth nearly 10 billion yuan ($1.5 billion) for workers last year. [Full story]
Records to be kept for workers in risky jobs
State Administration of Work Safety issued a directive requiring Chinese employeres to keep health records for employees who are exposed to health hazards at their workplaces. [Full story]