Pillows has worked with companies such as Coach, Neiman Marcus and Polo Ralph Lauren over his 30-year career. He will be the first CEO to head the company other than Margolis.

Margolis will remain an advisor to the company after his retirement.

The two-storey Melrose Ave. space has a futuristic feel and is decorated in Balenciaga’s signature blue shades.

The new store is part of a larger expansion strategy, the company said.

Kate Spade parent company Liz Claiborne hopes that the two executives will be able to triple sales at the brand by 2010. They will also be charged with drawing up a five-year plan to launch in new product categories.

The new director will be doing her first collection for the Spring 2009 season, debuting in October.

MacGibbon replaces Paulo Melim Andersson. Melim Andersson is an edgier designer but his designs reportedly produced slower sales.

A Monogram women’s collection is also in the works and will debut this spring. Banana will try out the women’s collection in its own concept store when the merchandise is available.

The store is operating under a license given to a friend of the design duo, Jacqueline Sassoon. Sassoon also has first rights to operate all future Badgley Mischka stores in the U.S.

Consumers are cutting back on their spending amid rising prices for gasoline and other staples, the credit card company said.

Luxury apparel sales slid even further in February, dropping 2.2% to $3.5billion, according to MasterCard.

The company is also focused on expanding distribution into Europe and is already being sold at Harrods in London.

Kors sees great potential in Europe and plans to open a headquarters there as well as a number of freestanding and concept stores.

Wilmotte will be in charge of all retail and wholesale in the region.

Yurman is opening its first Asian location in Hong Kong this weekend and has another store slated to open in Tokyo. The New York company plans to crack Europe and the Middle East next year.

Yurman also plans to open a new 6,000-square-foot flagship on Madison Ave. to replace its old Manhattan store. The company already has 15 stores dotted across the U.S.

The designer is known for his high-concept designs and artistic execution.

Puma said that Chalayan is the first fashion designer to be creative director of a sportswear company.

Gucci ‘s operating income increased by 5.7% to $887 million with total sales of $3 billion.

PPR said that its Bottega Veneta brand also brought in strong sales. The group is still working to reach breakeven on its Yves Saint Laurent investment.

The department store chain managed to pull out some profit despite a 6.2% decline in sales to $8.6 billion.

Macy’s has been challenged since its 2005 acquisition of May Department Stores. It pinned its recent results on tighter inventory control and the implementation of cost efficiencies.

The store will feature lightweight cashmere and transparent knits for spring, starting at around $400.

The company already closed its Madison Avenue location so it could focus on the 120 Wooster Street store. The new location is expected to bring in $3 million in sales for the first year.

The deal will result in a collection of bags landing in better and specialty this July. Prices will range from $100 to $200.

Wathne previously had a license for Ralph Lauren bags but that deal ended after a 20 year relationship