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ISSUE 74 / 2018


AGENT PROVOCATEUR How Ray White became a $25 billion household name in real estate in three generations


DOLLARS AND SCENTS Jean Mane’s nose for


family authenticity in fragrance


FASHION STATEMENT Sole Ferragamo’s


designs for independence


NO RESERVATIONS


Hotel heiress Lydia Forte on growing up in her father’s business


Editor Nicholas Moody


Deputy Editor James Beech Senior Writers


Susan Lingeswaran Alexandra Newlove


Art Director Elisa Barbata


Contributors


Daniel Bardsley Scott McCulloch


Executive Director, Sales Kevin Grant


T: +44 (0)20 3763 2804 Sales Team


Owen Hart


Laurence Mackintosh Chief Executive


Dominic Samuelson Published by


Campden Wealth Ltd 30 Cannon Street


London EC4M 6XH United Kingdom


T: +44 (0)20 3763 2800 F: +44 (0)20 3763 2801 E: fb@campdenwealth.com


For subscriptions please call +44 (0)20 3763 2800 or go to campdenFB.com


ISSN: 2040-8900 Printed in the UK by Stephens & George Print Group


Copyright © Campden Wealth Ltd 2018 The contents of this publication are protected by copyright. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without prior written permission of Campden Wealth Limited. The views expressed in this publication are not necessarily those of the Publisher or any of its employees or agents. While the aforementioned parties have taken every care with regard to the accuracy of all editorial and advertisement material, they cannot be held responsible for any errors or omissions contained therein.


FROM THE EDI TOR LADIES FIRST F ISSUE 74 | 2018


or centuries, when families discussed succession, they invariably were talking about male succession. Fathers passed on their name and business to sons and so the cycle repeated. This too was the case for one of the world’s oldest family businesses—Italy’s Marchesi


Antinori. It had seen 25 generations of male-to- male transfer, when Piero Antinori had three daughters who had a passion for the business. He passed them the leadership, thus creating the fi rst female management team in the company’s 633- year history. This inspiring story from our special feature, starting on page 28, is just one of many in this issue charting the rise of female leadership. It is part of the broader theme of succession throughout this edition. We lead our NXG section, starting on page 41, with two of the winners from this year’s European Families in Business Awards, Lydia Forte and Sole Ferragamo. Fourth-generation hotelier Forte stars on the cover as we hear about her impressive results working in her family’s luxury hospitality chain and its bold plans for Asia. Read how Ferragamo is keeping her family’s entrepreneurial spirit alive by putting a sustainable twist on the luxury leather industry, on pages 48-50. Jean Mane is the fourth male to hold the president’s position at his family’s French fragrance and fl avour maker MANE Group. But with his daughter Samantha working as a regional director, will she lead it into its fi fth generation? Turn to page 20.


We jump back to page 14 for a refreshingly frank perspective of succession from Australian third-generation realtor, Brian White: “The theory goes the fi rst generation starts the business, the second generation creates something good, the third generation stuffs it up. Could it be more realistically, fi rst generation starts, second generation creates it and then buggers up the succession? Is it a second generation problem, not the third?” From three generations to 15, turn to page 60 to read a case study on German pharmaceutical dynasty Merck, before we round out with a look at the Internet of Things, classic cars as passion investments, and a heartfelt interview with UK IT pioneer, now philanthropist par excellence, Dame Stephanie Shirley on page 100.


Nicholas Moody Editor nicholasmoody@campdenwealth.com


CAMPDENFB.COM 1


THE THEORY GOES THE FIRST GENERATION STARTS THE BUSINESS, THE SECOND GENERATION CREATES SOMETHING GOOD, THE THIRD GENERATION STUFFS IT UP. COULD IT BE MORE REALISTICALLY, FIRST GENERATION STARTS, SECOND GENERATION CREATES IT AND THEN BUGGERS UP THE SUCCESSION?


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