Daniela Giardina and Carlos Souza, two of Valentino's closest staffers -- she was the head of communications and advertising and he was the chief of publicity for the last 20 years, have both left the company. Souza let his contract lapse at the end of the year. Both will attend Valentino's haute couture show in January, but not the first show of his successor Alessandra Facchinetti. (FWD)

PPR says Christmas sales were "satisfactory."(Reuters)

Ralph Lauren stock is up on rumors that Warren Buffet is buying. (SeekingAlpha)

Simon Keenan has been named creative director at Banana Republic. (WWD)

Lacoste loses trademark battle over alligator to UK dentists. (Independent)

Fashion blogger Diane Pernet will edit paper version of IQONS networking site. First cover story is on Isabel and Ruben Toldeo and will debut during New York fashion week in February. (WGSN, no link)

Christophe Albarran named U.S. president of Dolce & Gabbana. (WWD)

Kellwood to repurchase $18 million of stock.(WWD)