Slowdown could give "Made in Italy" a cold -Tod's
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: Quote, Profile, Research, Stock Buzz) 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: Quote, Profile, Research, Stock Buzz).
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