I'm not a builder of buildings, I'm a builder of collections.

Power is winning the battle over who owns the customer: the brand or the retailer.

I don't think there's anything wrong with being paternalistic as a company.

No one stopped buying I.B.M. because Tom Watson wasn't there, but they stopped buying Elizabeth Arden because she wasn't there.

If you're lucky enough to be raised in a rich family, good. But learn how to respect that luck. It's not a given, you know? It's not like, 'Well, it's normal'. No, it's not normal. It's lucky.

In Chinese culture, it wouldn't occur to kids to question or talk back to their parents. In American culture, kids in books, TV shows and movies constantly score points with their snappy back talk. Typically, it's the parents who need to be taught a life lesson - by their children.

Family business management is a discipline that has evolved from an art into a science. The market for this line of education has been created by the growing recognition of family-run companies that shareholders are demanding greater clarity on issues ranging from succession to the management of wealth and the distribution of profits.

When a parent loses a child, there is no greater pain.