“It’s always been set up that way. It’s been wrongly reported in the last few days,” Nelson said.
The 27-year-old Brazilian tallied $33 million in fees and endorsements last year, according to Forbes. As a U.S. tax resident, Bündchen “is based in America, pays her bills in America. She, like anyone else who lives in America, doesn’t feel the fluctuation of the dollar until she goes shopping in Paris. She is pretty much here all the time and doesn’t feel the difference.”
In the instances when a European-based company does pay her in euros, the process chips away at the pay, Nelson said. “It’s more of a process — by the time it’s been converted [into dollars] and the banks have taken their commissions. It’s better to get paid in U.S. dollars.”
SPORTY SIMONS?: After turning out a stellar spring collection at Jil Sander, Raf Simons may soon add another string to his design bow. According to industry sources, the Belgian designer is set to collaborate with British street and sportswear brand Fred Perry on a men’s wear collection for fall. Spokesmen for Simons and Fred Perry declined to comment. If the deal does go ahead, it would be the latest in a string of collaborations for the Belgian wunderkind: Last week, Eastpak announced that the designer would develop an accessories line for the brand.
SPAIN’S BOUNTY: Valentino presented Belgium’s design team of Sandrina Fasoli and Michael Marson with the first El Botón Mango Fashion Award Tuesday in Barcelona. The pair beat nine other finalists for the $436,790 prize — the first to encourage fresh talent in Spain and the largest grant offered. Valentino was joined on the jury by Corso Como 10’s Carla Sozzani, Elizabeth Hurley, Mango president Isak Andic and others. During the ceremony, Valentino received the El Botón de Oro award for his many contributions and achievements in fashion.