Aquascutum in administration

Following reports this morning, Aquascutum has confirmed that it has entered administration today and has appointed joint administrators Geoff Rowley and Phil Armstrong - partners at FRP Advisory LLP, the specialist restructuring, recovery and insolvency firm - to oversee the process.
"We are conscious of the value of the Aquascutum brand and its long-standing heritage and because of this are keen to enter in to early discussions with interested parties open to purchasing the business as soon as possible,"  joint administrator Geoff Rowley said this afternoon. "We will of course be conducting an urgent assessment of all stores and concessions and look to communicate to staff and suppliers at the very earliest opportunity."
The directors made the decsion to begin administration proceedings following "significant losses" over the past year. Between its British stores and its UK-based manufacturing sites, Aquascutum employs 250 people in the UK.

Billion dollar burberry

Burberry has joined a league of fashion heavyweights that includes Prada, Gucci and Louis Vuitton as a billion-pound label.
"We are the only global luxury goods brand from Britain," the label's finance director Stacey Cartwright told the Evening Standard. "We are unique and we are balanced across clothing and leather goods. Our other difference is our focus on digital. Shoppers can buy straight from the catwalk with iPads in stores and we now have more than 12 million Facebook fans."
The luxury British brand has reached record sales of     £1 billion in the past six months - an increase of 18 per cent, thanks to a boost in the British, French and Chinese markets.

Marchesa's new line

Marchesa  is reportedly preparing to launch a contemporary line. The British label, known for its red-carpet-worthy, opulent and feminine designs, is said to be completing a deal with LF USA - the US branch of Hong Kong-based investment company Li & Fung.
This would be the second acquisition for LF USA in a matter of weeks, if the WWD rumours come to fruition, after the company  signed a backing deal with New York-based label Vena Cava  earlier this month.
Marchesa would follow in the footsteps of a host of luxury brands that have launched contemporary lines, including Karl Lagerfeld's  Karl; Alice Temperley's  Alice By Temperley; Marc Jacobs'  Marc by Marc Jacobs;  Matthew Williamson's  MW by Matthew Williamson; Alexander McQueen's  McQ; Victoria Beckham's  Victoria, Victoria Beckham; Versace's  Versus; and  Alexander Wang's  T by Alexander Wang.

McQueen and Galliano

Karlie Kloss has spoken about her experiences with two of fashion's biggest names:Alexander McQueen and John Galliano.
"Alexander McQueen once told me before I went out on the runway - I was wearing a dress that was very long and difficult to walk in, and I was concerned the dress was going to get caught on my shoe - 'Don't worry, Karlie; if it does, just take it off and throw it, throw the dress. Remember - YOU own the dress, the dress does not own you!' It was a moment I will never forget."
Her most treasured possession, she admits, is her "Dior bag from John Galliano. He gave it to me after we shot my first campaign with Steven Meisel, and I cried when I opened it. It is the most beautiful, timeless Dior bag. It is such a special reminder of that time in my career; someday I will give it to my daughter."


New blood needed

Respected fashion commentator Colin McDowell has weighed in on the Dior successor debate again this morning insisting that new blood, rather than a safe established name, is what the house needs for the next phase of its development.
"And so we come to the tragic case of Dior," he writes for the Business of Fashion, after offering his opinion on Raf Simons' Jil Sander departureand Hedi Slimane's YSL arrival. "And it is tragic on more levels than one: that a label needs a designer and that a man, for all his transgressions, needs a job. Fashion needs that man. To insert Bill Gaytten   an undisputedly brilliant technician, but not a designer into the gap at Dior can be nothing but a temporary solution. It's high time this gap was closed. But why not with somebody young and untested, as Yves Saint Laurent was when he took over the reins at Dior at the tender age of 21 and went on to revolutionise women's clothes? I still believe that designers with genius and courage, traits which are invariably independent of age, are more likely to thrive at a grand Paris label than at brands in any of the world's other fashion capitals at this point." McDowell made headlines last year after he revealed he had written to Dior chief executive Sidney Toledano to recommend Yves Saint Laurent lookalike Erdem Moralioglu for the vacant post. Another young London based designer, Christopher Kane, was linked with the job last month but told us exclusively that he is not in the running. 

Change the world with yoga and supermodels 

Miranda Kerr has agreed to give a free yoga lesson if she can convince 500 people to take up her Earth Hour challenge.
"I believe everyone has the power to change the world we live in,"

Super olsens

THE Olsen twins' new capsule  shoe  collection for Superga is almost here and will be available to buy exclusively at Harvey Nichols later this month. The stylish twins were appointed the brand's creative directors in September 2011 to mark the tennis sneaker label's 100th  birthday, announcing that they would also be designing a range under their fashion label The Row. But they may not be much to get excited over as they are only sneakers but could add sporty youth to a outfit or just wear them doing sporty things. But i see them as being more hipster rather than athletic 

Is schiaparelli and galliano set for a comeback?

The latest industry rumor isn’t about a Dior appointment but rather, the house’s former designer John Galliano. Hint reports that Galliano may be heading to Schiaparelli. With the Costume Institute’s upcoming exhibit Elsa Schiaparelli and Miuccia Prada: On Fashion, it would be a timely comeback for the Italian house and for the controversial but  genius man