Gucci announces children’s line

The first range of the Gucci children’s line will be launched in Italy in June this year and will be available across 40 stores worldwide. Frida Giannini is the creative director of children wear

Hermes Birkin Bag - minus the long queue.

You can buy the much hyped Hermes Birkin Bag minus the waiting list. The Birkins advertisement in Portero Luxury actually read, "The Wait Is Over. Get Yours Now!" And for all those compulsive shopaholics better to tell you that is where the effect of recession ends. Hermes Birkin Bags starts at $7,000.

* Louis Vuitton becomes the most valuable luxury brand in the world, fifth time in a row!

French fashion giants Louis Vuitton was ranked on top of the Millward Brown Optimor’s 2010 BrandZ ranking, now five years in at a stretch. Hermes with a value of $8.46 billion and Gucci valued at $7.58 billion rounds up the top three in the rankings. Tiffany & Co. came in at number 10 with a value of $2.38 billion. The most valuable brand in the world is held by Google Inc., valued at a massive $114.3 billion.