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Karl Declares; Valentino (Allegedly) Doesn’t


Karl Lagerfeld dresses up the recession with a pretty catchprase: “Bling is over. Red carpet-y covered with rhinestones is out. I call it ‘the new modesty.’ ” Another gem: “Throwing money out the window brings money back in through the front door.” Why couldn’t Karl have been our econ professor?

Valentino and Giancarlo Giammetti have been handed a hefty €33 million (or $39 million) fine for allegedly evading tax payments. Don’t worry, Val, as WWD points out, this is practically an Italian celebrity rite of passage. Sophia Loren served jail time for similar charges, and last year Dolce & Gabbana were under investigation.

Thakoon who? Apparently Washingtonians never check the label of their black-tie attire, so all this inauguration gown speculation has been for naught.

Job alert: Apple CEO Steve Jobs is taking a leave of absence. Techies, ready your résumés.

Why Nina Ricci would ever replace Olivier Theyskens is beyond us (he’s got the best hair in the business, hands down), but it appears that the brand continues to shop around. Their latest crush is Marc Jacobs’ right-hand man at Louis Vuitton, Peter Copping.

Editors can watch one couture show in their skivvies next week: Boudicca will be showing its collection online only.

Photo: James Devaney/Wireimage



  1. Valerio says:

    Der Kaiser Mr. Lagerfeld has right bling is over, but I’m curious what he really means by the phrase -throwing money out the window brings money back in through the front door- Ah yes Valentino and his friend Giammetti they will have a hard time with this fine of allegedly evading tax payments. I only have to laugh about this kind of reports. Roberto Cavalli was the victim two years ago and he never paid any Euro of his fine, he didn’t even had to go to prison. The same will be with our friends Dolce&Gabbana and Valentino, they make a deal with the tax department or judge and pay a small amount of money and everyone in Italy is happy again. By the way I think showing the collections online only is the future in my view. It cost a lot of dollars/Euros lesser then showing on Bryant Park or at the Via Napoleone and of course at the Petit or Grand Palais. The entourage is not so warm actually chilly when you have to follow a collection online and the editors and above all the celebs will miss the after parties, but the profits of the fashion houses are more important then to spend hundreds of thousands dollars/Euros for a show of 20 minutes, special during this time. Online shows are much cheaper then the real shows, I’m realizing now that is maybe what Mr. Lagerfeld meant by saying bling is over. Hmm I have to think this over. Greetings from Italy

  2. vbnyc says:

    Techies, ready your résumés? That’s all you can say about Steve Jobs taking a leave of absence because he’s gravely ill? This is the mind that revolutionized the phone industry, the design world, the music business — for starters. The implications for the future of any creativity driving our economy are staggering, darlings.