Italian entrepreneur Renzo Rosso has a habit of defying expectations.
The Diesel chief was in high spirits on Tuesday after watching the ready-to-wear display of his protege Sophia Kokosalaki, dismissing dire warnings from retailers that emerging designers would be the first to suffer from the current economic downturn.
"I am always brave, I want to do something fresh and modern," Rosso told The Associated Press. "For me, it's how I have always done things."
In recent years, Rosso has expanded his portfolio of fledgling brands through his holding company, aptly named Only the Brave.
In addition to Kokosalaki and French designer Martin Margiela, he recently bought a majority stake in the Dutch label Viktor & Rolf.
While Kokosalaki is critically acclaimed, she has yet to become a household name - and not only because most people can't pronounce her surname.
This season, the Greek designer drew inspiration from ancient civilizations ranging from Egypt to Mesopotamia, dipping into a treasure trove of beads and bugles to produce a stunning black tunic encrusted with gold embroidery, or a silver python bustier with a snake-shaped strap curling over one shoulder.
The wealth of terrific accessories was a sure sign that her label is expanding. Lacy black suede platform sandals with a sculpted silver heel confirmed that shoes have replaced handbags as the must-have items of the season.
But that may not be enough to sway key American buyers, who are seeking refuge in big brands as their economy flirts with recession.
Ron Frasch, president and chief merchandising officer of upscale
department store chain Saks, said it was tough to take on new designers in the current climate.
"I feel badly for a lot of these small brands because they look to the Sakses and the Neimans and the Nordstroms of the world as a launching location," he told The AP.
Even Rosso, though upbeat, said he was ready to take a breather from acquiring new brands. "I have enough," he said.