Morning Hemlines: Penney, Steve & Barry's, Forever 21, Ballantyne, Versace, and Sharapova

Sex doesn't sell for JCPenney -- company officials express "disappointment" over a racy mock advertisement that's made its way around the web. (WSJ)

DNR says Steve and Barry lowballed itself into financial desperation: customer-friendly prices made celebrity lines such as Sarah Jessica Parker's Bitten both popular and unprofitable. The company is seeking $30 million in rescue financing.

Forever 21 turns a profit by getting the consumer what they want before they know they want it. Rapidly expanding chain has its eye on becoming a "global retail conglomerate" with a little bit of help from G-O-D. (LA Times)

Scottish brand Ballantyne appoints former Prada designer Dawidh di Firmo as its first creative director, to bring the brand up to date; exclusive sweaters and Madison Avenue boutique on the horizon. (WWD)

Donatella Versace furthers Lamborghini's franchise aspirations by designing limited edition interiors and accompanying accessories for the exclusive auto maker. Versace Group also operates the Palazzo Versace hotel on Australia's Gold Coast and has designed helicopters for Italian company AugustaWestland. (Reuters)

The anti-Venus & Serena? Maria Sharapova's demure line of sports attire for Nike is set to make its debut at Wimbledon. (Times UK)

by Sean Santiago