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4/12/2003--Paris, France.Michael Zaoui, Managing Director and Head of Mergers and Aquisitions Europe (Morgan Stanley)..The International Herald Tribune's 3rd annual Fashion 2003 (Luxury in a cool climate) conference held at the Four Seasons Hotel in Paris. This year the conference looked at a luxury industry that took a hit in 2003, but seems to be recovering....All photographs ©2003 Stuart Isett/Polaris.All rights reserved.This image may not be reproduced without expressed written permission from Stuart Isett.