Flavio Briatore
Flavio Briatore is temporarily based in Monaco. From his office with the Casino in sight he manages his Billionaire brand, which ranges from clubs to clothes, plus his other entertainment businesses. But even away from Formula 1 for a couple of years, he still has an opinion and gives it. True to himself, Flavio style!
Interview by Romuald Clariond
You're based in Monaco now after years in London. Why did you choose the capital of motor-sport?
Because of my wife and my son, who live here full time, so I'm in London Tuesday to Thursday, and then I come back to Monaco on Friday.
So what's the point if you're still so much in London?
It's for my wife, she is closer to her family, and with a child as young as ours, it's easier. And the weather is way better in Monaco! On the flipside, London is the European capital, so I still have an office there.
Do you still own shares in Queens Park Rangers Football Club?
Yes, and we've been promoted to the Premier League! I'm busy with it, look - all this is about the club! It was a challenge: We had said it was three years hard work, and after three years we're finally entering the Premier League. I'm very happy for this and for Bernie, he's partner with me in this project. I think we've realised something very important.
So what are you dealing with in Monaco?
Here is all the Billionaire part, as well as Billionaire Couture, the whole brand development. We're the Billionaire again this year for the Monaco Grand Prix, still at the Fairmont, from Thursday to Sunday. We're also thinking of opening a permanent Billionaire all year long in Monaco after opening a few weeks ago in Istanbul. Everyone in Istanbul talks about it and I'm very happy about its success. We've opened Cipriani in Istanbul as well, and we'll open one next year in Monaco – the contract is already signed. In Monaco we also have the whole Billionaire Couture, and we have 12 boutiques around the world.
Are they a franchise?
We have about three we own. London is ours, as well as Porto Cervo, and we're partner in Las Vegas. The rest is on franchise, and we're working on opening six or seven shops, which means by the end of 2011 we'll have 18 or 19 Billionaire boutiques.
So with the clubs, clothes and resorts, you want to establish a full lifestyle brand.
It started as a hobby when I was in Formula 1, but that used to take all my energy. Now I'm not involved in Formula 1 on a daily basis, I just have the drivers' management activity, it gives me way more time to develop the brand. You develop a brand only if you have business success. That's the secret, if you want to succeed in business, it has to be advantageous for everyone. If it wasn't, people wouldn't open boutiques with us. It's the same for the clubs, but it's more difficult to get licences for this activity. By the way, our time schedule is to open one club per year.
What's the next one then?
There's Moscow, Berlin… we're looking at it! First you negotiate with partners, and then you have to settle and sort all the music and the management. It's the same as for Cipriani: you can't open too many Cipriani restaurants…
So, it has to stay exclusive…
Yes, otherwise you open some McDonald's! You have to get a high level of service and food, that's why you can only focus on opening one or two per year, maximum.
And Monaco is your next step?
It's already signed up for a Cipriani restaurant. And we're looking for a place for Billionaire, which is not easy to find in Monaco. We need a location where we can do well all year long, including winter. That's what we do in Twiga, we have a very good winter. On Friday and Saturday, we're full! The secret is to make it work in the winter as well, because in the summer it's normal that the club works. And that's what we could do in Monaco, with all the activity there's here in the winter as well. We could do some good Billionaire weekends. What you need as well are trustworthy people you can rely on to run it.
You're fine on that side, as you work with Deco Flamme for the Monaco transitory Billionaire and beyond. What about this partnership?
We're very happy with Deco Flamme, they do a great job. We were already working with them since last year with the Billionaire in Monaco, and we're working on developing the Billionaire Tour, to open Billionaire on the four or five days of a Grand Prix.
On each Grand Prix?!
Yes, a bit like a circus, you know! Usually you have a night-club on a location where people can go. But if we do the Billionaire Tour, it means we go where the people are. If there's a Grand Prix in Sochi, we go there! If there's a Grand Prix in Barcelona, we go there! And we create the atmosphere for each event with Deco Flamme support.
So it's really a pretty big brand development!
Yes! And we'll open Billionaire Beach as well, in Kenya.
At your Lion in the Sun resort?
Yes, next to it we're creating 27 apartments with all the luxury services of the resort. They're for sale as a package, all designed. It's part of the Billionaire lifestyle, we just have to adapt at each location regarding the culture, and once again have a good management. Because you know, the champagne is the same for everyone. What can be different is the way you sell it, and the way people have fun.
Do you miss the Formula 1 Circus?
No… for sure I don't miss the travel! But I watch it on TV and I think this year there's interest thanks to Pirelli tyres. Although there are maybe a little too many pit-stops.
What about the DRS? Isn't it a bit too much as well for mainstream people who watch races on TV?
It's artificial, so people don't understand. But you know, when Formula 1 decides to take engineering so far, it's like that. People like overtaking, but in racing you have to defend your position, and with this system, there's no chance for a driver to defend his position. It's half of their job and that they can't do, as it's about this and passing other drivers. It's too easy that way: I'm one second behind you, I open the DRS and boom, I overtake you! But with 4 pit-stops per race, it's definitely too much as drivers and cameras spend the races in the pit-lane…
But sometimes something happens, as when Jenson Button stopped in the wrong pit garage!
Maybe Jenson turned colour-blind!
Do you have a prediction for this year's Championship and for Monaco?
What prediction?! Ask my son Falco, he's one year old but even he will tell you that Red Bull is going to win!