Saint Laurent's Newest Look

Gucci Group wants to make it a luxury brand again

They've done it once before. Together, designer Tom Ford and Chief Executive Domenico De Sole turned Gucci Group from a frayed leather-goods company into a $1.2 billion fashion powerhouse. Now, this American duo wants to repeat that performance with Yves Saint Laurent, another faded star in the fashion firmament. The stakes are big: Success with YSL would clinch Gucci's reinvention as a diverse, high-profile luxury-goods empire with few rivals. "This is the moment when the company is being transformed from a single brand to a multiple-brand fashion group," says De Sole, who took over at an ailing Gucci in 1994.

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