PARIS, Jan 23 (Reuters) – Italian fashion house Giambattista Valli will not stage its planned Haute Couture show in Paris on Monday due to a review of its business, the brand said on Friday.
“The House is currently undertaking an in-depth review of the organisation of its activities in order to ensure the company’s sustainability. Fully focused on this process, it has decided not to hold the show,” the brand said in an emailed statement.
Giambattista Valli is majority-owned by Artemis, the Pinault family’s holding that also controls Gucci-owner Kering, itself struggling financially amid a global downturn in luxury spending.
(Reporting by Helen Reid; Editing by Kirsten Donovan)
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