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.’
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.
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.