Apple hired Paul Deneve, the former CEO of Yves St Laurent (YSL) group, to head a "special projects" division at Apple. He will report directly to Tim Cook. Deneve served as CEO of Lanvin and Nina Ricci ahead of his stint at YSL.
"Special projects" is another way of companies designating cutting-edge products or technologies that will either work at the markets, or won't. They're usually futurist and revolutionary. Google Glass is one such "special project" at Google, led by co-founder Sergey Brin.
Apple has been bagging up some of the biggest names in the industry that is seeing a fusion of technology, lifestyle, and fashion. Deneve joins a company that recently scored Mickey Drexler from J Crew Group Inc., while Cook himself sits on Nike's board.
"We're thrilled to welcome Paul Deneve to Apple," said the company, in a press-release. "He'll be working on special projects as a vice president reporting directly to Tim Cook," it added. Apple could benefit from the experience Deneve brings to the table, with luxury retail, particularly with Apple Stores at key premium locations around the world.