Chanel smolders, Valentino grins on Paris catwalks

A model presents a creation by German designer Karl Lagerfeld for French fashion house Chanel as part his Fall-Winter 2011/2012 women's ready-to-wear fashion collection show during Paris Fashion Week March 8, 2011. REUTERS/Benoit Tessier Italian fashion brand Valentino said on Tuesday that 2011 had started well and fended off rumors it was preparing to put itself on the auction