Gaultier boss resigns

Donald Potard, president of fashion house Jean Paul Gaultier, has resigned, causing tongues to wag about the state of the company.

Potard was a childhood friend of Gaultier who was promoted to president of the company in 1990. His management skills were as unconventional as Gaultier's designer skills, which is what he attributed the success of the company to. "We did couture after ready-to-wear, perfume before couture and we opened boutiques almost as the last step."

By way of explanation for his departure the 53 year old said: "My aim was to transform a small ready-to-wear company into the youngest luxury house. I now consider my mission accomplished."

In 1990 the company's revenues amounted to GBP 4.1 million, while last year's revenues totalled GBP 19 million. However, the house has been in the red for the past two years and the industry has speculated that Hermes, which owns 35 per cent of Gaultier, was losing patience. Last year, Gaultier was forced to fire 31 staff in an effort to save money. Hermes declined to comment on Potard's departure.

Managing director Christophe Caillaud is expected to take over the day-to-day duties from Potard until a replacement can be secured.