There are so many things to take into account - your ambition, your ego, the press, the consumers. You can never be sure that you'll be on top of the pile again.

Acknowledge the elegance of simplicity.

Retailing has become fiercely competitive. Today there are many large global fashion companies who have opened up mono-brand stores in major cities around the world. When I first opened my boutique in New York, in 1985, there were almost no other European luxury brands present with their own stores. Now Fifth Avenue is packed with huge stores from major Italian and French labels.

The difference between style and fashion is quality.

Never in my wildest dreams did I entertain the idea that I would become a fashion designer.

I started to take care of my body after I turned 50. I never liked how I looked physically because I was too cute, short, with coloring only on my cheeks, the perfect little nose, and then the blue eyes. But I would have preferred to have the look of a tough guy from the wrong side of town - one of those fascinatingly ugly looks.

I've always thought of the T-shirt as the Alpha and Omega of the fashion alphabet, ... The White T.