ralph lauren sits wherever he wants, and if that is the cover of your magazine, ralph is going to be uren's dominance was also evident when audrey hepburn presented him with the council of american fashion designers lifetime achievement award. >> there was one of his muses, his icons, audrey hepburn, the woman he watched when he was a little kid in the movies, now handing him the statue that, for him, could have been the oscar. >> remember the princess? i got her. >> with the launch of lauren's upscale purple label in 1994, the company looked great to the untrained eye. after all, sales were at an all- time high. but that only told half the story. hitha prabhakar is a retail business journalist. >> like every retailer that has big dreams, it just grew too quickly. there was a lot of capital expended in order to make that brand where he wanted it to be. that, combined with very lackluster operations in terms of distribution, created really a perfect storm for a company that was almost on the brink of bankruptcy. >> lauren needed a lifeline and found it with goldman sachs. the investmen

i think they should take all the uniforms, put them in a big pile and burn them. >> reporter: ralph laurenpromising to make them here, and keeping that promise. which is why so many of you were scratching your heads today. why would the olympic committee ignore the labels again? a spokesman for the committee saying we wanted to create a fundraising opportunity where almost anyone could support team usa. a nod to that $14 price tag on the mittens. but wait a minute. china, the only place that can make a $14 pair of mittens? our made in america team on the phones today. so many companies telling us they would have loved the job. >> we can make these right here in new hampshire. >> reporter: the sewing machines at bat waves in idaho already cutting the mittens in duluth, minnesota. duluth pack with the label "made in america." and from baabaazuzu in michigan a simple message. >> we can do this. >> reporter: and with mittens in hand, we wanted even more proof we could match the cost. headed to lion brand yarn known across the country. >> a very simple question tonight, these olympic mittens, $

. >> whatever aspect of the business that you are in in our industry, everybody looks at ralph laurena dreammaker who netted billions by imagining what others wished for. >> every time i design clothes, i am making a movie. >> i do not think anybody since walt disney has been as successful in persuading millions and millions of people to buy into his fantasies. >> wherever you go, ralph lauren's brands project an aura of rarefied living. >> ralph's brand stands for classic, timeless fashion. >> the brand represents your souvenir of this fabulous lifestyle that you want to be a part of. >> but his life was not as picture perfect. >> my sense was he thought that would be the last time he walked the runway. >> it wasn't, not by a long shot. >> wed

> i think they should take all the uniforms and put them in a pile and burn them. >> reporter: ralph lauren promising to make them here and kept the promise, which is why so many were scratching their your head, why would the olympic committee do it again? a spokesman for the committee saying we wanted to create a fund-raising opportunity where almost anyone could support team usa. a nod to that $14 price tag on the mittens. but, wait a minute. china is the only place to make a $14 pair of mittens. >> made in america. >> reporter: our made in america team on the phones. so many companies telling us they would have loved the job. >> hey, "world news" we can make these olympic mittens in new hampshire. >> reporter: they are already cutting mittens in duluth, minnesota. and from michigan, a simple message. >> we can do this. >> reporter: with those mittens in hand we wanted more proof we could match the cost. headed to a yarn company across the country, a very simple question tonight these olympic mittens, $14, made in china. could we make them here for the same amount? >> i bet we could. >> r

he really took the ralph lauren line and found a way to mainstream it across america. the brand is challenged in a couple of ways. they are all hurt. they are logo based. and part of it is we're not in a traditional college fashion mode. >> can that come back? >> it always comes back. everything comes and goes. but the fast fashion is not change i changing with the emphasis on wearable fashion that can be thrown out. and i think logo will again come back. there is still a brand with the three as if yo go around and ask the teens. >> if you see discounting up 13% do you start to get it on the back end with rents? do you see people want to negotiate with price per square foot because they're getting squeezed? >> my old man likes to say there's always a good reason not to pay rent as long as he's been around. at the end of the day, sales have been great. clearly margins have been hurt, look how well gap is doing. look at vicky's. it's easy to focus on the particular industry or segment that seems to be more challenged but you have got to look against the whole mall and al

>> ralph lauren, calvin klein, tommy hilfiger, michael kors, kenneth cole. they trust those brands.hey know the fit. they know when i buy a size 6, that size 6 fits me. they know when i buy a shoe in a size 8 shoe, it fits me. and so that, they trust these brands. they trust the quality. they know it's going to last. these are the things that make people come back for these important brands and that's why we do so well with them. we also do a very big business with our own private brands as well. >> right. not to slight those. i know. you're talking about some companies we like very much. pvh. we've been liking, of course. you mentioned cold outer wear. that's great for vf. >> we're a big north face retailer here, but overall cold weather business has been very good. >> let's talk about the capital structure. you've had a great run here. 547 million shares in 2007. down to 380 million. is that the way to go? i know you've got a fantastic cfo and you're always trying to figure out where to put that additional dollar. it's not building a lot of stores. it seems to be returning capital

. >> it's american designer ralph lauren who calls her an industry leader. >> thank you.ongratulations. >> i work with anna, and i have a great respect for her. she knows how to run a magazine, knows how to be in the forefront, knows how to bring substance to a magazine. >> designer domenico dolce and stefano gabbana listen when anna speaks. >> she give to us many, many advice about my job. >> what sort of ideas does she discuss with you? >> the new color, or maybe we are insecure about some clothes, she will advise, yes or no. >> and the devil's own designer, miuccia prada. her name will always be attached to prada because of the devil wears prada. has that affected your business in any way, positive or negative? >> of course, it made the name of prada very famous, even more if necessary, and her also. >> when she drops in on a designer, it is make-or-break time. >> and it goes with a belt. >> nicolas ghesquiere of balenciaga is anxious to please. >> light. >> yeah, i'm trying. >> do you keep her in mind when you're working on a new collection? >> there is always a momen

. >> ceo mindy grossman beat ralph -- built ralph lauren's jeans theness and in 2006 joined then struggling home shopping network to become the eighth ceo in 10 years. she has doubled the business in two years. >> it makes them ultimately inspired to buy. >> it is why hsn is trying to create what they call the 360 degree shopping experience. >> we are really recognizing that the world of e-commerce is changing. people want to be in control. they want to be able to watch, shop, play, do what they want when they want to. >> pockets. ,> if you miss travel channel , orntha brown's new luggage jay-z's stylist june ambrose -- >> metallica is on fire right now. >> i am not wearing my metallica shoes today. >> don't say that twice. >> just download one of the videos from your computer or iphone and rest by if you like it. it is an immersive experience. new shopping advance. >> one of her latest projects is --ming up with products teaming up with disney on products inspired by the movie oz. >> we had people go over there while they were filming the movie and bring back all of that inspiration. more

ralph lauren has made well over this already this year. >> he could have funded the lottery.osses. >> that is a great stat. >> facebook shares were up yesterday and mark zuckerberg made $1.2 billion. >> you do not make the money until you get out of the position. i am feeling better about shark attack. there are warnings and things. it looks like i have -- people in kansas are probably at a lower risk of shark attacks. >> the other question all week is, what would you do? would you take a lifetime payment? >> the option is to take the payout. the other option is to take it or to year annuity. a lot of people go for the cash, even though it does not make sense. >> maybe if you have those hundreds of millions of dollars. >> ila 12. >> are you going to share? >> no. >> people just want to have some skin in the game. it is fun. >> thank you very much. it is called the oscars of technology. sergey brin joins other titans of tack and is donating money to science and physics. ♪ >> it is 56 past the hour, which means we are on the market. futures are rebounding after a three-day loss

. >> ralph lauren. >> $100 billion. how did we come up with that?ery year, the estate and gift tax system rates is about $14 billion. since 2000, the guy who set up this technique estimates his technique has cost the government more than 100 billion dollars. no one really knows for sure. that is about a third of all the estate and gift taxes collected during that time. >> he is a lawyer and an accountant? >> he invented the original loophole in the 1980's. he saw the error in what they had done and took them to court and proved that there was an even bigger loophole. >> here is what i want to know most. how does this guy feel about this frankenstein's monster that he helped create? >> he is a tax lawyer. [laughter] no one is doing anything illegal here. >> do tax lawyers feel good about the things that they design a tax avoidance scheme that is legal and which it would appear dozens of extraordinarily wealthy americans are availing themselves of? any morenot his fault than sheldon adelson possible. it is congress who created these rules. they are li

ralph lauren guilt his empire on h fashion.f inspiration rather than a source of aspiration. the big take away will be to refuse those labels to refuse tond by be bound by the skin in which f you're packaged. >>> and the world's only underwater research lab nearly went belly up last year [ wind howling ] [ female announcer ] it balances you... [ water crashing ] ...it fills you with energy... and it gives you what you are looking for to live a more natural life. in a convenient two bar pack. this is nature valley... delicious granola bars made with the best ingredients in nature. nature valley. nature at its most delicious. if i can impart one lesson to a new business owner, it would be one thing i've learned is my philosophy is real simple american express open forum is an on-line community, that helps our members connect and share ideas to make smart business decisions. if you mess up, fess up. be your partners best partner. we built it for our members, but it's open for everyone. there's not one way to do something. no detai

. >> retail performing relatively well here, ralph lauren, the gap and others close to the top of the mentioned earlier that gap will be a winner. >> and la quinta has filed confidentially for an ipo. if you're filing confidentially, you have less than $1 billion in revenue. hilton raised about $2.7 billion since its ipo. >> blackstone announced it's going to sell out its 50% share of the broadgate center in london in the financial district. so blackstone is clearly setting itself up for exits now or down the line. because in the case of hilton, it's a majority locked in at the moment. it's a question of releasing stock it wishes to. >> the deals that were struck in the 2006 and 2007 time frame, blackstone went public right before the crash happened. the stock is up almost 100% this year. it doing quite well largely because of its real estate portfolio -- >> that's the irony of private equity in a bull market. the s&p up 28%, the best since 1997. these firms are selling everything at the top. they're not buying anything, not spending the money they're sitting on. >> refinancing has be

we just launched ralph lauren last month, we launched michael kors and coach a few months earlier.e team we have in place, the website is our fastest growing channel. >> and how many people are using that channel and going to either return product at the store or how it's -- combining both experiences. >> yeah, we're trying to make it seamless so we don't really care how they shop or return or how they engage with us. and it's clearly every month you can see the uptick with the traffic of the site and how the customer's interacting between the site and the stores. we think that's great. >> in terms of price, the online product versus the store product. online warehouse doesn't cost a lot, but then there's the shipping and everything else. >> yeah. >> then there's the mall which costs a lot. >> right. >> and you're trying to do both. >> well, i think there's a tipping point when you get to a certain amount of online sales where it becomes tremendously profitable. but until you get there, to your point you have to overcome the shipping charges and the fulfillment charges. we're kind

ralph lauren got in hot water in 2012 for making our uniforms in china. >>> a south carolina store is husky, the second he got off the leash, the store was robbed. he snuck in the store twice and took off with some treats. i bet he has a tummy ache he's back home now. >> just to get the dog treats? >> my favorite criminal ever. >> why not go for a steak. >> at the dollar store. >> he knows what he likes. >> i guess i should listen to the entire story. >>> how much snow is out there, white christmas? ready for christmas? we've had snow. a full map for this time of year and yesterday we had areas that got air 15 inches of snow across southern parts of missouri, in towards illinois, right around that ohio river valley junction with the mississippi river valley. cold air hanging on. that's the coldest. that pink. you see all the temperatures down here, high temperatures down towards dallas today, around 30 tomorrow. only 33 denver. they're still below 20. that changes monday, up to 24. tuesday is the day we start to see legitimate relief for a lot of people. still cool, not as bad as it's