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Must Read: Dolce & Gabbana's Tax Evasion Case Finally Closes, Department Stores Ramp Up Handbag Discounts

Plus, fashion wants Alber Elbaz to start his own line. Will he?
Domenico Dolce and Stefano Gabbana. Photo: Pietro D'Aprano/Getty Images

Domenico Dolce and Stefano Gabbana. Photo: Pietro D'Aprano/Getty Images

These are the stories making headlines in fashion this Friday.

Alfonso Dolce acquitted of tax charges; Dolce & Gabbana tax evasion case finally closes
Back in Oct. 2014, Domenico Dolce and Stefano Gabbana were cleared of all charges related to the sale of their brands to Luxembourg-based company Gado Srl. And on Thursday, Dolce's cousin Alfonso, previously the legal representative of Gado Srl, was acquitted of tax evasion. 'Tis the end of a really, really long case. {WWD}

Consumers cut back on handbag purchases; stores increase promotions
Since its peak in 2011, handbag sales have been going down — and in response, both premium and mid-level department stores have been increasingly cutting down the prices of bags. In premium stores, promotions were up about 5% in the fourth quarter of 2015 compared to the same period last year. Heavily discounted brands have included Coach, Tory Burch, Kate Spade and Michael Kors. {Quartz}

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What are the chances that Alber Elbaz will start his own line?
Several industry figures have expressed hopes that Alber Elbaz would start his own fashion line, yet is that really plausible? As Vanessa Friedman points out, there were similar hopes and rumors surrounding Louis Vuitton's Nicolas Ghesquière and Celine's Phoebe Philo when they left Balenciaga and Chloé, respectively. But the fact is, it's difficult for established designers to start small with the whole world watching. Although: "Mr. Elbaz could, of course, fight this trend." {The New York Times}

Lenny Letter interviews designer Mary Katrantzou
In Lena Dunham's latest interview for her newsletter Lenny, designer Mary Katrantzou talks about growing up in Greece, having her graduate show reviewed on and all the (female) role models that have helped her along the way. Interestingly, fashion critic Sarah Mower "kind of discouraged" Katrantzou from starting her own line back in 2008 due to the recession. {Fashionista inbox}