Rights groups applaud the decision as a victory for individual and religious freedom.
Revenues dropped 15 percent, despite the "first signs of improving trends in mainland China.”
The charity held its annual spring fundraiser at Chelsea Piers.
Agreement pertains to the Vince Camuto, VC Signature and Jessica Simpson brands throughout Europe.
The Italian press went into a tizzy after Ansa reported that the designer was planning to leave his company to a foundation.
Designer’s first pieces for the retail chain will hit stores in November for the holiday season.