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Defining moment: In 1957, Wada, now 70, joined Seibu Department Stores Ltd., working in the owner's inner circle. At 35 Wada was named a director.
Luxury quotient: Sogo and Seibu sales have beaten expectations, with an '04 operating profit of $315 million. Wada plans to redesign Seibu outlets throughout Japan and open a new Sogo store in Osaka. "I want to live in a world where money is not a concern," he says. He won't be finding such a place soon.
Mail-Order Magnate Eva Jeanbart Lorenzotti
Claim to fame: Not so long ago, catalogs garnered about as much respect in the luxury world as layaway plans. Lorenzotti, 35, changed that with Vivre, her glossy source book of luxe goods.
Defining moment: Armed with focus-group research, she persuaded Christofle and Cristal Saint-Louis to sign on for the debut issue in 1995.
Luxury quotient: The biannual book now carries more than 150 brands and reaches 2 million people, who can buy into Vivre's dreamy world for $25 (for a leather baseball). And then there are the $13,530 alligator-skin ponchos.
Polo's Media Mogul David Lauren
Claim to fame: Ralph Lauren's son David, recently promoted to oversee the company's advertising and marketing, is on a mission to turn his father's global fashion establishment into a multimedia powerhouse, a launching pad for websites, films and magazines.
Defining moment: After college, Lauren, 32, ran his own Gen X magazine, Swing. His first full-fledged project for Ralph Lauren is Polo.com and the site's editorial content reflects his original passion.
Luxury quotient: Shopping is Polo.com's bread and butter, and Lauren wisely utilizes tried-and-true etail tactics to sell the company's wares. But these sweaters--and teddy bears--are cashmere.
Cosmetics Emperor William Lauder
Claim to fame: Grandson of the late Estee Lauder, he rose through the ranks and was recently named CEO of the Estee Lauder Cos.--the $5 billion beauty enterprise chaired by his father Leonard.
Defining moment: Legendary for thinking outside the box, he spearheaded Origins, the popular botanically based line, and is a champion of the Beauty Bank, an in-house think tank.
Luxury quotient: The company has become the LVMH of beauty in recent years--acquiring 13 brands, from MAC to La Mer. But its original five still make up the lion's share of sales. "We are brand builders," says Lauder. And he is just getting started. He aims to double the size of the company in five to 10 years.
Marketing Maestros Silas Chou and Lawrence Stroll
Claim to fame: Known for their Midas touch with companies like Ralph Lauren and Tommy Hilfiger (in the 1990s they turned Hilfiger into a $1.8 billion brand), they have set their sights on Michael Kors, buying 85% of his company, with plans to turn it into a $1 billion brand.
Defining moment: They snapped up the stuffy British luxury-goods company Asprey & Garrard for a reported $150 million and enlisted Norman Foster to design the London flagship.
Luxury quotient: If $10,000 crocodile handbags are on your shopping list, then maybe Stroll and Chou can turn Asprey into the next Hermes. Asprey is, after all, the place where Queen Victoria once bought her Christmas presents.