Police in Monaco charged three suspected members of the "Pink Panther" gang international jewel thieves Saturday 20 June.

Stricken fashion house Escada will gamble part of its shrinking reserves on persuading bondholders to sign up to a debt restructuring before it runs out of money, a source with knowledge of the situation told Reuters.

Patek Philippe, one of the last major independent Geneva-based watch manufacturers, has seen resilient demand for its timepieces, but cautioned sales could fall as much as 15 percent in a worst-case scenario.

Italian leather goods maker Piquadro SpA said on Thursday 18 June its net profit in the year to end-March rose nearly 16 percent to 7.5 million euros ($10.5 million), sending its shares higher.

Japanese designer Kenzo Takada waved off his personal art collection at auction for 1,9 million euros (2.6 million dollars), just over the estimated value.

Swiss horologer Zenith, part of the globally leading luxury group LVMH, is negotiating with the representatives of its staff over new reductions in personnel, which will, according to a union source, translate to seventy redundancies, around a third of all employees.

It may sell luxury goods, but Mulberry Group believes its "understated British style" and a new range of slightly cheaper bags have captured the mood of recession-hit shoppers.

Online retailers are starting to feel the impact of the recession, even if their growth rates might still be the envy of the country's shopping streets, a survey showed on Thursday 18 June.

Christopher Bailey has been decorated. The artistic director for Burberry has been “elevated to the rank of Member of the Order of the British Empire (MBE)”, recognizing his “services to the fashion industry”.

For those that did not know it yet, the economic crisis spares no-one. Not even the luxury sector. Actors in the sector know it and are coming up with new marketing line-ups. The ink is still wet on the proposals, but it seems like ostentation is out, emotion in.

Swedish budget fashion giant Hennes & Mauritz said on Wednesday 17 June luxury shoe maker Jimmy Choo would become the latest in its string of high-profile guest designers.

Who says fashion is only for the catwalk? A Chinese designer is creating trendy tracksuits and elegant evening gowns for dogs, turning her passion for canines and couture into a booming business.

On the 15th of June, the upper crust of the world of New York fashion got together for the CFDA Awards (the Oscars of fashion) for the best American designers in 2009.

Italian fashion house Prada is talking to banks about renegotiating its debt, Executive Vice President Carlo Mazzi said on Tuesday 16 June.

From rare Japanese lacquers to Hopi Indian dolls and Chinese statues 2,000 years old, fashion icon Kenzo Takada waves off his personal art collection at auction Tuesday 16 June as he downsizes his Paris home.