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Slowdown could give "Made in Italy" a cold -Tod's

Tue Jan 29, 2008 7:45am EST

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MILAN, Jan 29 (Reuters) - Italy's high-end manufacturing sector is not immune from an economic slowdown and could catch a "cold", the top executive of Italian luxury shoe and bag maker Tod's (TOD.MI) said on Tuesday.

"'Made in Italy' is not immune. The crisis could upset it," Tod's Chairman and Chief Executive Diego Della Valle told a news conference.

"It could give it a cold, but not pneumonia."

Slowing of the U.S. economy has worried investors and policy makers, and concerns have also surfaced that the U.S. downturn was spreading to the 15-nation euro zone.

Tod's, which is giving its Italian workers a bonus of 1,400 euros ($2,070) this year, reports 2007 sales on Wednesday.

Italy is world renowned for its luxury goods and fashion producers, including such famous names as designer Giorgio Armani and jeweller Bulgari (BULG.MI).



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