Aquascutum

>> Despite No Runway Show, Aquascutum Will Still Have London Fashion Week Presence —Aquascutum pulled out of London Fashion Week earlier this month due to turmoil among its management and its pending sale, but the brand won't be entirely void of presence when all the international buyers and editors are in town. The Spring 2010 collection will be presented during LFW at the Aquascutum flagship in London.  "We will be using this opportunity to be able to show the collections in an innovative and more interactive format,” said Aquascutum head of womenswear Michael Herz. [WWD]

>> Designers have been flocking back to London Fashion Week for Spring 2010 to help celebrate the event's 25th anniversary — the latest convert is Jasmine Di Milo — but London is also losing a few headliners: first Giles Deacon, and now Acquascutum.  The latter brand, which has been under turmoil as of late after a failed buyout attempt led by former CEO Kim Winser — who promptly left the company afterwards — has been up for sale by parent company Renown since last year.  

Renown is currently in advanced talks with its Chinese licensee YGM Trading Ltd, but today released this statement: “While Renown awaits a sale of Aquascutum, they are consolidating their investment in the business during this period, and will therefore not show this September.”

Meanwhile, Paris Fashion Week is said to be getting a little Los Angeles flavor: Christian Audigier says he's showing there for Spring 2010 this October and promises a performance by an unnamed "big celebrity" name. 

>> INSIDER WIRE —Two houses are experiencing tumultuous times: As expected, Versace CEO Giancarlo Di Risio stepped down today and will stay on temporarily as the company transitions; no successor has been named.  And Aquascutum geared up for layoffs yesterday in the aftermath of former CEO Kim Winser's unexpected resignation. [WWD, Times UK]

>> After weeks of speculation, Versace CEO Giancarlo Di Risio, who has been with the company since 2004, is expected to hand in his resignation at a board meeting on Friday.  Despite the fact that Di Risio worked closely with Donatella Versace to make her collections less flashy and returned the house to profit, the company has been under strain from declining sales, and its board recently approved a restructuring plan which effectively sidelines the chief executive.

Di Risio is said to have clashed with Donatella on a number of levels — he disagreed with her lavish lifestyle, according to recent articles in the Italian media, and pushed her to simplify her designs so that the house could introduce accessories and clothes with lower prices.

Donatella wanted to spend $140K a day on Mario Testino, Di Risio didn't. »

Burberry Prorsum will close London Fashion Week this Spring 2010, rather than show in Milan, in honor of LFW's 25th anniversary.

Domenico Dolce and Stefano Gabbana face charges of more than a billion dollars in unpaid taxes and fines, due to allegations surrounding the sale of Dolce & Gabbana and D&G in 2004. 

Lily Cole debuted her first major movie role at Cannes this weekend and was complimented for her performance. 

Former Aquascutum ceo Kim Winser is rumored to be moving on to Versace, although, so far, Versace denies this to be true. 

Alexander Wang will launch a beauty line with Shiseido in Japan and select Asian countries this July. .. 

Zac Posen made a television appearance as himself on a new show called, Beautiful Life. 

Rumors circulate as to whether CEO of Aquascutum, Kim Winser, has left the company. 

Last night's amfAR Cinema Against AIDS benefit auction in Cannes drew fashion folk. 

>> ON THE CAMPAIGN TRAIL —Cult favorite Tim Walker — known for his whimsical, colorful fashion photography — has a few new projects on hand.  He's said to have a couple of films in the works for release this year, which means we could have another Wes Anderson, Tim Burton, or Michel Gondry-type auteur on our hands, and he also snapped Acquascutum's Spring 2009 campaign.  He and longtime set design collaborator, Shona Heath, came up with the concept of kissing couples dressed in the brand's bestselling AquaMac based on Aquascutum archive images. [Vogue UK]