Diego Della Valle

Tod's owner Diego Della Valle is taking advantage of the new attention directed at Schiaparelli by bringing the long-dormant brand back to the market early next year.

Della Valle plans to hire a designer by September and aims to have accessories, fragrances, cosmetics, and some clothes in stores by next February. He's hired actress Farida Khelfa to be the face of the brand — her first assignment is attending this evening's Met Gala in vintage Schiaparelli — and will set up shop at 21 Place Vendôme in Paris, the same address at which Elsa Schiaparelli opened her first boutique.

"The idea with Schiaparelli is to propose the brand with all its modernity, and represent dreams, art and all the most sophisticated things we can do," Della Valle told WWD.

Della Valle has reopened old fashion brands before: in 2002, he brought the shoe label Roger Vivier back to life.

Schiaparelli is one half of the focus of this year's Costume Institute exhibit, Impossible Conversations: Schiaparelli and Prada. The exhibit will be open to the public from May 10 to Aug. 19.

>> Dorino Della Valle, founder of the Italian fashion empire that owns Tod's, Roger Vivier, and Hogan, died Tuesday. He was 87.

WWD reported that Dorino, father of current Tod's Chairman Diego Della Valle and Vice Chairman Andrea Della Valle, died in the Italian town of Casette d'Ete. Dorino started making Tod's shoes in the basement of his home there in the 1920s, but the business didn't become a full-fledged luxury house until Diego expanded the operation with manufacturing in the 1970s.

The Della Valle family now owns a range of fashion companies and has a stake in other nonfashion businesses, like the RCS MediaGroup and the soccer team ACF Fiorentina. Calcio Sport reported that the team has suspended its regular practices and will observe two days of silence until Dorino's funeral on Thursday. Spokespeople for Tod's had not responded to a request for comment by the time of this posting.

>> Officials from Italy’s Ministry of Culture have approved the offer Diego Della Valle, the chairman and CEO of Tod's, made to finance the restoration of Rome’s Colosseum. Tod's Group will be responsible for a monetary commitment of 25 million euros (approx. $32.8 million) to the project, which is expected to begin at the end of the year and take up to two and a half years.

"A monument that represents Italy in the world must be restored, and a company that represents Made in Italy stepped forward to say, 'If you need us, we are here,'" Della Valle said at a press conference. When recently asked what benefits to Tod's sponsoring the project would bring, Della Valle told WWD that “there is a moment to take and there is a moment to give” and that this is a cultural project, not a commercial one.

>> As luxury brands are increasingly turning to manufacturing in China and technological savvy to increase profits, Tod's chairman Diego Della Valle refuses. He runs Tod's like a traditional, old-fashioned family business — instead of listening to focus groups to decide which new shoe styles should go into production, he wears the shoes, and decides after a few days if they're to his liking. And there are no computers or iPhones in his office — Della Valle makes do with an outdated Motorola cellphone.

“We don’t take risks,” says Della Valle, who has grown Tod's into a multibillion dollar company and kept the business concentrated on shoes and handbags. “We want to guarantee our customers we’re giving them the best.” While the brand has 24 stores in China, Della Valle refuses to move production there just to reduce costs, something that other Italian-based brands have done recently.

A men's crocodile loafer retails for 3,500 euros and costs 1,590 euros for Tod's to make in Italy; making it in China would reduce production costs by half, and therefore, increase the company's profitability. But Della Valle thinks it's worth the price — and the strategy is paying off. Tod's was one of the few luxury companies worldwide to increase sales and profits throughout the financial crisis: profits grew from 77 million euros in 2007 to 83 million in 2008 and 86 million in 2009.

Karl Lagerfeld is a busy man, but he's found time to team up with Hogan for a one-off Spring 2011 capsule collection. "For Hogan, he [Karl] will reinterpret all the iconic elements in both apparel and accessories, which will help raise Hogan’s visibility in Asia and especially in China," said Diego Della Valle, longtime friend and CEO of Tod's SpA, which owns Hogan. The brand will open its first flagship in Shanghai this Fall.

Here is a sneak peek of the collaboration — army influences, layers, and crisp jackets abound. What do you think?

See two more Karl Lagerfeld for Hogan looks.

>> Karl Lagerfeld Confirmed to Design for Hogan While Namesake Label Hangs in Balance —Karl Lagerfeld has confirmed earlier speculation that he will design a one-off collection for Hogan next Spring; the future of his signature line, however, is not so certain. The Lagerfeld label, a subsidiary of Tommy Hilfiger since 2005, was not part of the Hilfiger acquisition earlier this week by Phillips-Van Heusen, and will be retained by former Hilfiger owners Apax. Of Lagerfeld, Apax partner Christian Stahl said: "It’s not commercially the best brand in the world, but in terms of appeal and recognition, I think it’s a great brand. We’re going to focus on it and develop it.” But he's not denying that Apax will try to sell the label: “Every company we own is for sale.” [Style File, WWD]

>> Karl Lagerfeld to Shoot Next Pirelli Calendar, May Collaborate with Hogan —Every year, Pirelli taps a new photographer for their annual calendar: Terry Richardson did the honors for the 2010 edition, and for 2011, Karl Lagerfeld will shoot "all the top girls" in April. “I’ll do it in my studio in Paris. It’s too obvious to have a beach setting."  Lagerfeld is also rumored to be the "marquee" name Diego Della Valle is in talks with about doing a one-off Hogan collection. [WWD]

>> Diego Della Valle Has a Mystery Marquee Collaborator for Hogan Up His Sleeve —Diego Della Valle appointed Thakoon Panichgul two years ago to help oversee a newly-launched Hogan apparel collection, but the collaboration ended last season.  Now, Della Valle says his goal is to have Hogan clothing sales equal accessories sales within the next few years, and he's teasing an upcoming collaboration with a "marquee" name.  But who? He won't yet say. [WWD]

>> Anna Dello Russo's Home Featured in Upcoming Book from Tod's —Tod's commissioned a new picture book called Italian Touch, which inside features — among the 100-plus Italians of different ages photographed, Vogue Nippon's fashion director-at-large (and cult style icon) Anna Dello Russo, captured in her Milan home; the preview shown features an enlarged still from Luchino Visconti’s The Leopard on the wall behind her and Tod's moccasins, of course, next to her. The book is available to pre-order online. [Style File]

>> Bruno Frisoni Donated Shoes to Lacroix's Show; LVMH President Speaks on Lacroix Purchase Rumors —If the shoes at Christian Lacroix's Fall 2009 couture show seemed familiar, it's because Bruno Frisoni of Roger Vivier and Vivier owner Diego Della Valle donated them, according to the former: "I called Mr. Della Valle and told him what was happening and he said, ‘Yes, of course, we’re with [Lacroix].”  As for the rumors of LVMH repurchasing Lacroix, LVMH President Yves Carcelle said after the show: “Oh, this I don’t know! I’m here as a friend and not as a member of LVMH.”  For his part, Frisoni thought Lacroix "has to continue" — "the best thing is to keep the name and do it in a very simple way, like Azzedine Alaia does." Lacroix apparently agrees, envisioning "a move to a different house in a different location and a customer approach that mirrors that established by Azzedine Alaia in his own studio-emporium-salon," according to Hamish Bowles.[On the Runway, Vogue Daily]