Valentino S/S 09 ad campaign, courtesy of Valentino

Valentino hits Permira’s pockets (FT)
“Private equity’s costliest excursion on to the catwalk risks turning into a flop as Permira, the UK buy-out house, nears completion of talks with lenders to Valentino, the Italian fashion house, about renegotiating its €2.5bn (£2.1bn) debt.”

Bread & Butter anticipation mounts (Drapers)
“Karl-Heinz Muller, the organiser of young fashion trade show Bread & Butter, is expecting more than 80,000 people to descend on the fair’s new location of Tempelhof Airport in Berlin, when the three-day event opens tomorrow.”

From Paris | Chic of Araby (The Moment)
Western style borrows from the Arabian peninsula as “washed linen and light cottons in multiple layers worn over floppy pants,” make it onto the runway.

Expert Advises on Creating A Korean Luxury Brand (Korean Times)
“Luxury brands, from Louis Vuitton to Gucci to Chanel have entranced the whole world, including Korea. But many are wondering why Asia, in particular Korea, has not yet produced its own globally known luxury brand.”

Craft Punk exhibit in Miami, courtesy of Fendi

Why Luxury needs a recession (Business 24-7)
“Michael Burke, President and CEO of Italian fashion house Fendi, has always maintained that luxury should not be affordable. ‘It cannot be, it shouldn’t be for everybody,’ he insists. ‘The way the products are made, the quality and the works… luxury is not for instantaneous gratification. One should aspire for it.’”

Distinctive Men’s Styles From Some ‘Little Brothers’ (New York Times)
“The final day of the spring 2010 menswear collections in Milan spotlighted many of the secondary lines of some of the biggest names in fashion, collections generally perceived to be the sportier, more rebellious young brothers to the high-end lines. But rather than looking like second-class fashion citizens, these shows were collectively strong, with distinctive messages that pushed them out of the shadows of their big brothers’ broad shoulders.”

Clements Ribeiro return to London Fashion Week (Drapers)
“Design duo Clements Ribeiro will return to the London Fashion Week schedule this September after a four year break.”

Protests threaten launch of Bread & Butter Berlin (Drapers)
“Protesters who operate under the banner ‘Rescue Tempelhof’ are campaigning for the disused airport, which will host B&B next week, to be registered as a UNESCO World Cultural Heritage site and do not want it used as a trade show venue.”