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>> MODA OPERANDI —Pending board approval, Alessandra Facchinetti, as rumored, is out at Valentino.  Contrary to rumors, however, her replacement will not be Giambattista Valli — although many thought his collection yesterday looked like a tryout for the job — but rather Maria Grazia Chiuri and Pier Paolo Piccioli, the longtime accessories duo at Valentino.  Fachinetti is said to have clashed with management over design direction and production costs. [WWD]

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