Emilio Pucci in 2000 and Fendi, DKNY and La Samaritaine in 2001. In the 1990s, Arnault decided to develop a center in New York to manage LVMH's presence in the United States. He chose Christian de Portzamparc to supervise this project. The result was the LVMH Tower that opened in December 1999. That same year, Arnault turned his eyes on Gucci, an Italian leather goods company, which was run by Tom Ford and Domenico De Sole. He discreetly amassed a 5 percent stake in the company before being detected. Gucci responded hostilely and called it a "creeping takeover." Upon being noticed, Arnault upped his stake to 34.4 percent while insisting he wanted to be a supportive and unassertive stakeholder. De Sole proposed that in return for board representation, Arnault would stop increasing his stake in Gucci. However, Arnault refused to accept these terms. De Sole discovered a loophole that allowed him to issue shares with only board approval, and for every share LVMH bought, he created more for his employees, diluting Arnault's stake. The fight dragged on until settlement in September 2001. After the legal ruling, LVMH sold its shares and walked away with $700 million in profit. In 1998, with businessman Albert Frère, Arnault purchased Château Cheval Blanc in a personal capacity. LVMH acquired Arnault's share in 2009 to add to the group's other wine property Château d'Yquem. From 1998 to 2001, Arnault invested in a variety of web companies such as Boo.com, Libertysurf, and Zebank through his holding Europatweb. Groupe Arnault also invested in Netflix in 1999. 2001–present: Increasing success and profitability In 2007, Blue Capital announced that Arnault owned jointly with the California property firm Colony Capital 10.69% of France's largest supermarket retailer and the world's second-largest food distributor Carrefour. In 2008, he entered the yacht business and bought Princess Yachts for 253 million euros. He subsequently took control of Royal van Lent for an almost identical amount. From 2010 until 2013, Arnault was a member of the Board of Advisors of the Malaysian 1MDB fund. On 7 March 2011, Arnault announced the acquisition of 50.4% of family-owned shares of the Italian jeweler Bulgari, to make a tender offer for the rest, which was publicly owned. The transaction was worth $5.2 billion. In 2011, Arnault invested $641 million in establishing LCapitalAsia. On 7 March 2013, National Business Daily reported that mid-priced clothing brand QDA would open stores