1993 to $70 million in 1997. In October 1995, the company was publicly indexed on the New York Stock Exchange with an initial stock value set at US$22. Then, from 1995 to 1997, Investcorp sold its interests in Gucci for around US$1.9 billion. LVMH-PPR struggle over Gucci By January 1999, the French luxury conglomerate LVMH, which had been buying shares of Gucci discreetly since 1995, reached 34% ownership in Gucci Group NV. Seeking a way out of LVMH's control, Tom Ford and Domenico De Sole turned to the French financier François Pinault and his group Pinault Printemps Redoute, which later became Kering, for an emergency exit. In March, Pinault's group bought out 40% of Gucci at $75 a share, and LVMH's shares decreased to 20.7% in a dilution process. Through the deal, PPR also purchased Yves Saint Laurent from Sanofi and sold it back for the same price to the Gucci Group. This coup d'état in the fashion world launched a cold war between LVMH and the new Gucci-PPR coalition. A tension occurred in December 2000 when Gucci bought 51% of Alexander McQueen's couture house, as McQueen was also the creative designer of LVMH's Givenchy at that time. The feud around Gucci ended in September 2001 when all parties reached an agreement. By the end of 2003, Tom Ford and Domenico De Sole made it official that they would not renew their contract with Gucci-PPR that ended in April 2004. Following Ford's departure, Gucci Group retained three designers to continue the success of the company's flagship label: John Ray, Alessandra Facchinetti and Frida Giannini, all of whom had worked under Ford's creative direction. Facchinetti was elevated to Creative Director of Women's wear in 2004 and designed for two seasons before leaving the company. Ray served as Creative Director of Menswear for three years. Frida Giannini – a Gucci handbag designer since 2002, head of accessories since 2004, and creative director of women's ready-to-wear and accessories since 2005 – was appointed creative director of Gucci in 2006. Patrizio di Marco, formerly CEO of Bottega Veneta, was named CEO of Gucci in 2008. Both acclaimed and criticized for perpetually revisiting Tom Ford's archives, Frida Giannini eventually toned down Ford's explosive 'Porno Chic' props over the years "from sexy to sensual", and started to experiment with 'androgynous Bohemian' styles with a 19th-century reminiscence. She also developed "neo-classics" such as the New Bamboo and