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Fashion news 2008-05-22 06:58:35

Fashion In 50 Seconds 5/21/08

Prada Group poached Valentino's Graziano De Boni and made him president and chief operating officer of Prada USA. De Boni was responsible for helping grow Valentino's sales in America from $24 million in 2002 to $67 million in 2006. He begins the new position at Prada on July 1st.

Adidas says that Russia will become their top European market in the next two years. Adidas out-does Nike in Russia, where their market share is double that of NIke. To facilitate this relationship Adidas plans to up their number of freestanding stores from around 460 (at the end of 2007) to 750 by 2009. Does this have anything to do with Anna Kournikova? We can't tell.

Dior, Louis Vuitton, Fendi, and Versace all nearly deserted after 7.9 magnitude earthquake in China. WWD takes the appropriate (but kind of boring and untimely) 'what will happen to the retail market' angle on the devastation in China. The people of Chengdu, a major retail hub, are said to be especially cautionary for fear of an aftershock.

Jonathon Saunders is confirmed to launch a capsule collection with Target in October. Saunders will have just shown Spring in New York Fashion Week and so the timing seems right. The designer's recent successes include a popular collection for Topshop in London and title as creative director of Pollini.

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