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SETISA Company Profiles

October 1, 2003  |  Share

SETISA Report, October 2003

Click here to read the full SETISA report

Sean John Clothing Inc.

525 7th Ave. Ste. 1009
New York, NY. 10018
Ph: 212 869 6422
Fax: 212 869 4133

Sean John was created by Sean "P.Diddy" Combs in 1998. The privately held company is one of the fastest growing companies in the fashion world, with estimated revenue of nearly $300 million in 2002, up from $32 Million in 1999. Sean John is now sold in 1,200 stores across the country, including Macy's, Bloomingdales, Saks, and Dillard's.

Old Navy, Baby Gap

Old Navy and Baby Gap are subsidiaries of Gap Inc. The Gap operates out of 3,097 locations.

The Gap owns The Gap, Old Navy, and Banana Republic

Revenues and Profits Annual (ending 2/1/03) Annual (ending 2/2/02)
Total Revenue: $14.457 Billion $13.847 Billion
Net Income: $477.5 Million $-7.8 Million

Executive Compensation
Paul Pressler, President and CEO
In 2002, Pressler received a total of $1,610,244.00. He also received $21,625,000.00 worth of non-exercisable stock options.

Polo Ralph Lauren Corporation

650 Madison Ave.
New York, NY 10022
Ph: 212 318 7000
Fax: 212 318 7690

Revenues and Profits Ending 3/29/03 Ending 3/30/02
Total Revenue: $2.439 Billion $2.363 Billion
Net Income: $174.2 Million $172.5 Million

Executive Compensation

Ralph Lauren, Chairman and CEO
Year: 2003
Salary: $1,000,000
Bonus: $5,400,000
All Other Compensation: $517,135

When adding in stock options, Lauren took in $9,544,335 in compensation.

Per week: $183,544
Per hour: $4,588.62
According to Forbes Magazine, Ralph Lauren is worth 1.9 billion dollars, is the 209th wealthiest person in the world and the 88th richest in America.

$200 million in Fiscal Year 2003
$547,945 per day

Other News
Polo Ralph Lauren was one of the defendants in a lawsuit brought by Global Exchange and Sweatshop Watch on behalf of 40,000 garment workers in Saipan. The workers reported that they faced harassment, abuse, and poor working conditions. Polo Ralph Lauren was one of the companies that agreed to settle with the plaintiffs out of court.

Nautica Enterprises Inc.

Nautica was purchased by the VF Corporation on August 27 th , 2003. VF bills itself as the largest apparel company in the world.

VF Corporation
105 Corporate Center Boulevard
Greensboro, North Carolina 27408
Phone: (336) 424-6000
Fax: (336) 547-7634

DESCRIPTION: VF Corporation is the world's #1 jeans maker. Their brands include Lee,
Rustler, Brittania, Chic, H.I.S., Wrangler, Gitano, and Riders jeans brands. Other VF brand names include Vanity Fair, Lily of France, and Vassarette (lingerie); Jansport and Eastpak (backpacks, Jansport is #1); Lee Sport (knitwear); The North Face (outdoor gear and apparel); Red Kap and Bulwark (industrial work clothes); and Healthtex (infants' and children's clothes). Most of its sales come from jeans. VF makes NIKE, MLB, NFL, and NBA apparel under license.

Revenues and Profits
FY 2002 FY 2001Total Revenue: $5.0835 Billion $5.2204 Billion
Net Income: $-154.5 Million $137.8 Million

Executive Compensation
President and CEO, Mackey J. Macdonald
In 2002, Mackey McDonald paid himself $11,770,300 in total compensation including stock option grants from V.F. Corp. This does not include another $5,335,300 in unexercised stock options from previous years.
Per Week: $226,351.92
Per Hour: $5,568.79

Advertising budget
VF spent $245 million advertising and promoting its products in 2002
Per day: $671,232

In other news
In September 1999, VF Corp closed two of its Virginia sewing plants for its Bassett-Walker subsidiary, displacing 400 local employees. Half the work was transferred to another Virginia facility while the other half was moved to Mexico. News & Record (Greensboro, NC) September 15, 1999.

The Timberland Company

200 Domain Drive
Stratham, NH 03885
Phone: (603) 772-9500
Fax: (603) 926-9239

Revenues and Profits 2002, 2001
Revenue: $1.19 Billion $1.183 Billion
Net Income: $95.1 Million $95.1 Million

Executive Compensation
Jeffrey B. Swartz, President and CEO
2002: Salary: $2.25 Million Exercised $4.15 Million worth of stock option
Total: $6.4 Million
$123,076.92 per week
$3,076.92 per hour

Tommy Hilfiger

25 West 39th Street
New York, NY 10018

Revenues and Profits Annual (ending 3/31/03) Annual (ending 3/31/02)
Revenue: $1.8881 Billion $1.8767 Billion
Net Income: $-513.6 Million $134.5 Million

Advertising costs totaled $43,513,000, $44,841,000 and $56,329,000 during the years ended March 31, 2003, 2002 and 2001, respectively.
For 2002: Advertising costs per day: 119,213

Executive Compensation
CEO and Chairman: Joel Horowitz. Note that on August 4, the company announced that they had named David Dyer, former CEO of Lands End, to be the CEO of the company.
Year: 2002
Salary: $662,678
Bonus: $10,053,000
Other: $5,500
Total: $10,721,178
Per week: $206,176
Per hour: $5,360.59

Honorary Chair and Principal Designer: Thomas Hilfiger
Year: 2002
Salary: $22,360,000
Per week: $430,000
Per hour: $10,750

In other news
Tommy Hilfiger was named as a party in the Saipan lawsuit, and settled the case.

A subsidiary of Sara Lee

Sara Lee Corporation
3 First National Plaza
Chicago, IL, 60602
United States
Telephone: 312-726-2600
Fax: 312-726-3712

Revenues and Profits Annual (ending 6/29/02) Annual (ending 6/30/01)
Revenue: $17.628 Billion $16,632 Billion
Net Income: $1.010 Billion $2.266 Billion

2002: $898,000,000 2,460,273 per day
2002: $939,000,000 2,572,602 per day

Executive Compensation
CEO: Steven C. McMillan
In 2002, C. McMillan paid himself $17,304,615 in total compensation including stock option grants from Sara Lee Corp.
Per week: $332,781.05
Per Hour: $8,319.53

In Other News
On June 22, 2001, Sara Lee Corp. pled guilty in federal court for selling contaminated hot dogs and meats in 1998. The contaminated meat caused 100 illnesses, six miscarriages, and 15 deaths. The corporation has agreed to pay a $200,000 fine and a donation of $3 million for food safety research at Michigan State University. The company also agreed to settle a related civil suit with the U.S. government, regarding $1.2 million sale to the Department of Defense. -- New York Times, June 23, 2001

Sources:, SEC 10-K filings,, AFL-CIO Executive Pay Watch,, Forbes Magazine, The New York Times, DNR

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