Valentino Fashion Group’s Profits Down; Hayden Panettiere Wants to Design

Hayden Panettiere

• Valentino Fashion Group's operating profits for 2008 decreased by 7 percent. Its net indebtedness is thought to be in excess of $2.69 billion. [WWD]

• Be warned: Hayden Panettiere "would like to develop a few fashion projects in the future." [WWD]

Heidi Klum's husband, Seal, told the audience of one of his concerts that Heidi is pregnant: "Heidi and I are having another baby! I mean, Heidi is doing all the work." Damn straight. [British Vogue]

• Angelina Jolie likes Russian designer Alexander Terekhov, who showed his fall 2009 collection in New York for the first time. He says, "I like that in following the trends Russian women dress more for men than for themselves. They like to look feminine; to dress up in heels and dresses. I think every woman should own a classic cocktail dress, a clutch bag and a lot of shoes." [British Vogue]

• New York Times fashion critic Cathy Horyn was yelled at for taking pictures in clothing stores. [NYT]