Donald Potard, the president of Jean Paul Gautier announced his retirement.

Potard, one of the closest friends of Gaultier's, has become the company's leader 25 years ago. He boosted the house profit from $8 million to $36 million and created an unprecedented market strategy that was later followed by other fashion houses: "We did couture after ready-to-wear, perfume before couture and we opened boutiques almost as the last step." Potard made Gautier brand just as famous abroad as Chanel was, having opened boutiques in USA, Europe and China.

Although the company's revenue has reached $19 million last year, it is rumored that the house is almost broke and Potard's retirement serves as a proof for many. Yet the former president explained the reason of his resignation differently: "My aim was to transform a small ready-to-wear company into the youngest luxury house. I now consider my mission accomplished."

As his successor is unknown yet, managing director Christophe Caillaud will temporarily take the responsibilities of the president.