PARIS, Jan 24 — Italian fashion ​house Giambattista Valli ‌will not stage its planned Haute ‍Couture show in Paris on ‌Monday due to a review of its business, ‍the brand said on Friday.

“The House is currently undertaking an in-depth review of the organisation of its activities in order to ensure ‍the company’s ‍sustainability. Fully focused on this process, ​it has decided not to hold the show,” the brand said in an emailed statement.

Giambattista ‌Valli is majority-owned by Artemis, the Pinault family’s holding ‍that also controls Gucci-owner ‌Kering, ‍itself struggling financially ‍amid a global downturn in ‍luxury spending. — Reuters