Caroline Herrera has a new president. Caroline Brown is replacing Mario Grauso who left the company in September to join Vera Wang. From the beginning of June she will oversee the fashion house's global business which includes the pret-a-porter line and bridal wear. Herrera explained that the choice was easy as Brown "brings great experience to the company." More than qualified for the position, Brown boasts recent CEO positions at the brands like Armani, Akris and J Christopher Capital.

"We have taken a few months for this search to make sure we found the right person to take the house of Carolina Herrera to the next level," Marc Puig, chairman and chief executive told WWD.

The company is currently expanding its lines and stores worldwide with the latest store opening on London's Mount Street in February and Herrera hopes to have opened 17 more stores worldwide by the end of the year. Despite the economic decline Herrera is not worried in the slightest saying "I'm always confident and do you know why? Because women never stop buying. When you can no longer afford clothing, you buy fragrances or cosmetics."