Fashion designers shiver as economic crisis hits

In the cutthroat world of fashion, a designer can quickly lose rising star status _ a fact that Alessandra Facchinetti knows only too well.

For the second time in her career, the 36-year-old designer on Friday faced the prospect of losing her job after only two seasons at the helm of a major design house.

Rumors that Italian label Valentino was on the verge of replacing Facchinetti spread like wildfire at the Paris ready-to-wear shows, sending shivers of fear through other designers who, as a result of the global financial crisis, face growing pressure to deliver results quickly.

"The very class of people that have driven the whole boom in all these international brands are the very people who are going to lose their jobs in the financial sector," Godfrey Deeny, senior fashion critic at Fashion Wire Daily, told AP Television News.

"I think in the West, it's really going to hurt the bottom line and I think heads will roll."

VALENTINO

Facchinetti was hired last year to replace the house's founder, Valentino Garavani, who retired in January after 45 years in business.

Stefano Sassi, chief executive of Valentino Fashion Group, said the company would make a statement in the next few days to clarify its position.

"We know there are a lot of rumors regarding Alessandra and her future at Valentino," Sassi told reporters backstage. "The board of directors has every intention of making things as clear as possible for the market."

Trade newspaper Women's Wear Daily reported on possible replacements Friday. Facchinetti declined any comment.

The situation was eerily reminiscent of events at Italian label Gucci three years ago. Facchinetti was replaced after two seasons as its women's designer by Frida Giannini, also an accessories specialist.

Friday's uncertainty overshadowed a fine collection that contrasted clean lines with lavish embellishment.

A charcoal gray silk tunic dress with a scalloped hem was embroidered with circles of black and gold sequins. One-shouldered draped chiffon vestal gowns came in Valentino red or a barely there shade of beige.

Cedric Charbit, general merchandise manager at French department store Printemps, deplored the quick turnaround of designers at major brands.

"You have to give people the time to settle in, or not, as the case may be," he told The Associated Press.

"Facchinetti is being told, give us Facchinetti, but put in some red, because it's Valentino. So you end up with something that is slightly mixed. It's neither a blatant failure, nor a resounding success," he added.

CHANEL

If anyone is immune to the impending shakedown in the luxury goods sector, it is Chanel supremo Karl Lagerfeld. Retailers have described the French brand as a safe haven in turbulent times.

The German designer gave them what they came for, staging a spring-summer show worthy of a Hollywood production on a film set reproducing Chanel's headquarters in the exclusive rue Cambon _ five-storey facade, pavement and all.

Models stepped out of a mock Chanel boutique wearing the house's classic tweed suit, updated with an oversized grid pattern in graphic white or holographic sequins. A self-confessed compulsive shopper, Lagerfeld offered leather tote versions of the label's paper carrier bags.

"It's a little wink. And in the times we are living in, I think the guarantee of quality and stability of the big brands is what will survive in the end," he told reporters after the show.

ALEXANDER MCQUEEN

British designer Alexander McQueen gave evolution a helping hand, unveiling a radical silhouette combining hourglass hips with androgynously slim legs.

With the debate over skinny models still unresolved, it seemed unlikely that women's bodies will naturally morph into this kind of shape anytime soon.

For the time being, they will have to rely on the padding that underlaid his thigh-grazing molded dresses, which were heavily encrusted with mineral looking crystals that sparkled like a million stars.

Models emerged between a Noah's Ark of life-sized stuffed animals that underlined McQueen's evolution theme.

A skintight sheath with cutout panels at the hips featured a black-and-white vertebra print on the back and a skull-like pattern on the chest. Lest the mood get too pensive, the designer took his bow dressed in a rabbit suit.