Recession? What recession? Versace refuses to give into the economic downturn by lowering its prices. As a matter of fact there is no recession in its privileged world...

"Our regular client was not queuing on January 3-4 in Milan or Rome but was on the slopes in St Moritz or on a boat in the Caribbean," CEO Giancarlo Di Risio told the Italian media. Other Milan based designers such as Dolce & Gabbana, Armani, Roberto Cavalli and Gucci have slashed prices by as much as 50%.

Versace Fall/Winter 2008 - Milan
© 2008 fashionWATCH - Photo: Edward James

The first images of Madonna’s photo shoot for Louis Vuitton have been released.  They show the 50 year-old diva posing provocatively in fishnet tights and LV-logo undies.

The photos were taken by  lens man Steven Meisel the same photographer that shoot the singer’s famous sex book almost 20 years ago. Madonna was said to have been paid $10 million for the season’s honours.

Karolina Kurkova’s weight problems may be more serious than just eating a few extra calories or slacking off. She recently was reported to be suffering from a thyroid condition.

The 24 year-old Czech born beauty shocked the media showing excess cellulite during last Sao Paulo Fashion Week in June. A thyroid disorder can slow down the body’s metabolism and lead to weight gain.