Hedi Slimane, a former designer for Dior Homme is to take over as creative director at Yves Saint Laurent, YSL and its parent company PPR confirmed on Wednesday.

Slimane is “named creative and image director” and “will take on artistic responsibility for the brand and all the collections.

In parallel with his new job, he will continue his career as a photographer, a joint statement said. The announcement came on the last day of Paris Fashion Week.

François Pinault, founder of luxury conglomerate PPR, has just paid $32 million for a historic mansion in the Chelsea neighborhood of London.

It was designed, according to The Telegraph, in 1868 by Philip Webb, the ‘Father of Arts and Crafts architecture.’ It also has triple-height ceilings.

The house was previously owned by Professor Bernard Nevill who bought the house for approximately $110,000 and spent over “30 years perfecting the interior”.

French luxury products giant PPR said on Tuesday it was acquiring Italian high-end menswear brand Brioni, in line with the restructuring of its business.

PPR has “signed an accord with Brioni shareholders to acquire 100 percent of the capital,” it said in a statement, without giving a figure for the deal.

PPR head Francois-Henri Pinault said this acquisition “completes our portfolio of luxury brands … in the mens’ ready-to-wear segment,” which is growing fast.

French retailer and luxury goods giant PPR announced Monday the launch of a capital increase reserved for Group Sowind after which it will become the majority shareholder of the company with 50.1% of the capital.

Sowind Group, one of the few independent Swiss watch manufacturers with a presence in 60 countries including the brands Girard-Perregaux and JeanRichard.

PPR, which already held 23% stake in the company did not specify the amount of the transaction.

Gucci have created a limited edition bracelet to help support the relief efforts in earthquake and tsunami ravaged Japan.

Featuring a white-red-white web that recalls the colors of the Japanese flag, the bracelet carries a medal with a message that reads, “Gucci loves you.”

The bracelet will go on sale in Gucci stores throughout Japan tomorrow, followed by worldwide distribution in Gucci flagships stores in Europe, United States and Asia.

Champagne corks are popping again in the luxury business as “It” bags and expensive watches this year sell like hotcakes from Beijing to New York, signalling the turning of a page after the global financial crisis.

As the owner of Gucci and Yves Saint Laurent, French luxury goods giant PPR, on Friday joined a string of high-end brands reporting ballooning 2010 profits, firms and consultants predicted rosy days ahead for luxury goods.

“The recession’s starting to look like an old memory for the luxury industry,” said analyst Matthew Curtin, quoted by Dow Jones Newswires.

PPR chief executive Francois-Henri Pinault said of the group’s doubled first half net profits, “very good results … in an economic environment that remains hesitant.”