Italian designer Alessandra Facchinetti said she was bitter to be leaving the Valentino fashion house after learning from media reports that the company was replacing her, Italian newspapers said on Sunday.
Members of the controlling family of French luxury goods group Hermes have no plans to sell shares and the house is confident it will weather the financial crisis, Chief Executive Patrick Thomas told Reuters.
MILAN, Oct 3 (Reuters Life!) - Valentino Fashion Group will clarify in three or four days whether designer Alessandra Facchinetti will stay with the fashion house, its CEO said in an Italian newspaper on Friday, amid speculation she will be replaced.
Marks & Spencer is reining in investment, slashing costs and stepping up promotions amid signs of mounting pressure on consumers as banks tighten lending and house prices fall at the fastest rate for 17 years.
Charles & Colvard Ltd's Chief Financial Officer James Braun resigned, and the moissanite gemstone producer cut four other jobs as part of a corporate reorganization to manage costs and return to profitability.
Clothing manufacturer and retailer Ted Baker said trading in the last two weeks has been adversely affected by growing economic turmoil. It announced a 5.4 percent increase in pretax profit for the first half.