Wed 06 February 2013
GALLIANO’S PACKAGE
Earlier this week John Galliano and his lawyers were waring it out in a paris court over wrongful dismissal claims… No surprises there. What did catch my eye were the pay packet details revealed as part of the proceedings. So here it is:
Mr Galliano sources income from two parts of LVMH (Dior’s parent company)…
The first is Christian Dior Couture, he is paid an annual salary of 1 million Euros plus a variable compensation of up to 700,000 Euro. In addition to that, he is given a 30,000 Euro allowance for clothing and another 60,000 Euros for grooming.
Secondly, he is paid a annual salary of 2 million Euros as artistic director of his own brand (John Galliano, owned by LVMH), a bonus linked to the decrease in losses at the ever unprofitable business, and a 70,000 Euro clothing budget.
And perhaps well deserved- it costs a lot to look that weird right??!
COMMENTS
Christian Dior is actually the parent company of LVMH owning about 43% of the shares and nearly 60% of voting rights.
James on 6th February 2013
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