Next month Fashion Weeks begin with the men's shows in Milan and Paris. Valentino has announced it will not do runway shows in either city this season but show by appointment instead. The company probably decided to do this to save money in the financial crisis, which has wiped an estimated $1 billion off Valentino Fashion Group's value. We fear for the fate of the men's collections this year — Marni also recently decided not to do a menswear show. It's a shame because the men's shows are some of our favorites. [WWD]