Rei Kawakubo collaborates with Hermès

Rei Kawakubo, the founder of fashion label Comme des Garçons, has teamed up with Hermès to design two collections of silk scarves.

Rei Kawakubo, the publicity-shy founder of avant-garde label Comme des Garçons, has teamed up with Hermès to create two limited-edition collections of the French brand's iconic silk scarves, or carrés, as they are better known.

Named Comme des Carrés, the collaboration will hit stores in February. The first collection, "Noir et Blanc", will feature five scarves in various black-and-white designs and be sold exclusively in Comme des Garçons stores in Tokyo's Aoyama neighbourhood, New York and Paris. The second, "Couleur", will be more colourful and stocked at both the London and Tokyo branches of Dover Street Market.

BURBERRY falling Down!!

Indeed... The market is changing, and so are the market players!

Luxury goods maker Burberry shocked the markets on Wednesday with a warning that sales had stalled in the clearest sign yet that slowing demand from China is having an impact on the booming sector.

The profit warning wiped £1bn off Burberry's market value, sending shares in the 156-year-old fashion house down nearly 21% to £10.87. Following disappointment from Coach and Ralph Lauren in recent weeks, this is the first major disappointment for European luxury brands, analysts said. The shine has also come off sales at New York-based jeweller Tiffany, with Europeans and Asians buying fewer $65,000 (£40,000) diamond necklaces and $10,000 amethyst earrings.

Experts predict the global slowdown will prompt the rise of more affordable luxury lines and lead to Chinese shoppers becoming more discerning in what they buy.

Burberry, known for its trademark camel, red and black check, said like-for-like sales ground to a halt in the 10 weeks to 8 September and have started to fall in recent weeks. Total sales including new space were up 6%. It warned that profits before tax for the year to March 2013 would be at the lower end of City expectations, which ranged from £407m to £455m.

Burberry's chief executive Angela Ahrendts said: "As we stated in July, the external environment is becoming more challenging."

Sales of luxury goods in China tripled in value in the last five years, according to Euromonitor International. Its burgeoning middle classes have become key clientele for Burberry and other international luxury brands including France's LVMH, Hermes and Gucci owner PPR, splurging on western designer fashion and handbags.

Clint Eastwood's daughter under fire after destroying a $100,000 Hermes Birkin handbag

Francesca Eastwood and her photographer boyfriend Tyler Shields in Twitter and Facebook storm after setting fire to a crocodile Hermès Birkin bag in the name of art.

As the daughter of one of Hollywood's most prolific actor/directors, and star of realty TV show Mrs. Eastwood & Company chronicling the lives of her extended family, Francesca Eastwood is well used to being in the eye of the storm.

But Clint Eastwood's 18-year-old daughter is on the receiving end of vicious public outcry after a photographic stunt with her artist boyfriend Tyler Shields backfired.

Eastwood and Shields - known for his work with video portraits and celebrity photography - decided to publicly demolish a $100,000 crocodile Hermès Birkin bag by setting it on fire before taking a chainsaw to it, all in the name of art.

The results of the project can be seen on Shields' website, and were featured in Mrs. Eastwood & Company with Francesca's step-mother Dina expressing her disgust at the fact that her she even owned a bag worth so much and stating that she does not understand the true value of money.

Francesca poses with the $100,000 crocodile Birkin between her teeth. PHOTO: Tyler Shields

And it seems Dina is not the only one horrified by the stunt - angry viewers have taken to Francesa's Twitter and Facebook pages to express their anger, TMZ report.

"Some of us actually have to work and live check 2 check, spoiled rotten b***h to burn 100k bag" wrote one angry viewer.

Francesca takes a chainsaw to the Birkin. PHOTO: Tyler Shields

"Wow.... The $100k wasted on this pointless shoot could of been used to benefit a number of charities or ppl in real need. Just crazy," another said.

These comments are on the tame end of the spectrum, with other more vitriolic account holders going so far as to suggest that Francesca should kill herself.

Fanning the flames: Francesa Eastwood poses with the burning Birkin. PHOTO: Tyler Shields

For her part, Francesca is so far unfazed by the reaction with sources close to her telling TMZ she knew people would be shocked, but that they just don't understand art.

UK officially the most Designer Handbag CRAZY country

Britons are the most voracious online seekers of luxury bags as new research reveals the most searched handbag labels in the world.

Research carried out by the World Luxury Index™ showed that Britons accounted for 422 searches per 1000 internet users of most searched-for handbag brands, with home-grown label Mulberry as the most popular brand of choice.

The company examined over 130 brands, through 130 million searches across eight countries with American luggage label Coach coming out top. Mulberry came in eighth in a top 10 which features luxury heavyweights, Louis Vuitton, Chanel and Hermès.

The iconic Hermès Birkin is the most searched for model across all markets, with crocodile most sought after in the US, UK and France. Research also showed that Americans prefer their Birkin in orange, while Britons favour tan and the French, black.

The US also has the largest share of searches for Chanel's classic 2.55 style which is toted by Kate Moss, Diane Kruger and Linda Evangelista.

The study also noted that in Japan, consumers have somewhat fallen out of love with Louis Vuitton goods. The brand is ranked ninth in Japan - making it the only country where it does not rank in the top five.

The top 10 most searched luxury handbags globally:

1. Coach 

2. Louis Vuitton 

3. Chanel 

4. Gucci 

5. Longchamp 

6. Prada 

7. Hermès 

8. Mulberry 

9. Marc Jacobs 

10. Michael Kors