Gucci Battle: Designer vs Brand

On the one hand is flamboyant designer Tom Ford, 42, who is credited with taking fashion house Gucci from the verge of bankruptcy to being one of the world's most powerful luxury goods brands. On the other is Serge Weinberg, 53, the chief executive of Pinault Printemps Redoute, the French retailer that is taking control of Gucci - without creative director Ford and chief executive Domenico De Sole.

Ford's decision to walk following reported disagreements over 'money and control' led to a flurry of headlines in the Press. They loved Ford's looks and glamour and delighted in his belief that Gucci celebrated 'hedonism, luxury and sex'.

Weinberg, however, is precise and measured. Of Ford's departure, he will only say dryly: 'We accepted the possible consequences after a risk valuation and decided to take that risk.'

The acquisition will plunge PPR headlong into the debate over whether it is the designer or the brand that matters most; whether a large conglomerate has the ability to manage a stable of designer 'luvvies' with explosive egos.

Classic brands such as Versace, Dior and Coco Chanel have prospered down the years with a succession of designers. But just because a designer has a powerful image does not mean he or she will be able to adapt to a big name label - ask John Galliano, Alexander McQueen and Julien McDonald, who all struggled at Givenchy.

What many see as counting in Weinberg's favour is the success of Burberry, where the entire business has been revitalised by Rose Marie Bravo while creative director Christopher Bailey has remained in the background, allowing the fashion house itself to take the limelight.