• Who was the First Lady-elect wearing? Narciso Rodriguez. [Style.com]
• Marc Jacobs cancels his annual holiday costume party (this year was "Rock and Roll Circus")in deference to the economy. Last year he went as a camel toe. [ElleUK]
• Following the success of its Go!International collection, which features emerging designers, Target introduces a new line, Designer Collaborations. This one focuses on established names and kicks off with Alexander McQueen! "The collection will have rock 'n' roll influences and edgy details such as studs and tattoo-print fabrics." [WWD]
• And more! "McQ Alexander McQueen for Target will feature lightweight sweaters, skinny jeans, bubble dresses, slim skirts and cuffed shorts. Signature pieces include a coated cotton poplin black trench, a rock ’n’ roll gray denim cropped studded jacket, a men’s wear-inspired tuxedo blazer and a color-blocked one-shoulder dress with bubble hem. The collection also will include swimwear and cotton voile print scarves." His muse is Leila Moss, the lead singer of The Duke Spirit. [WWD]
• Elle Macpherson, for one, feels the credit crunch can only hope her lingerie line: “For every down-at-heel hedge fund manager who has had to ditch his mistress due to financial hardship there’s always another waiting to step in...And in these hard times you find that when a woman can’t afford a dress in the luxury echelons, she may opt instead to part with £20 on underwear that makes her feel good.” [Daily Express]

• Speaking of recession-proof people, Peaches Geldof will see her line for PPQ hit London shelves tomorrow - "the perfect party looks, mixing English eccentric with gothic glamour along with a healthy dose of fun." [ElleUK]
• Mumsy mainstay Marks & Spencer is way down despite desperate marketing efforts. "Everything about Marks and Spencer's marketing, from the use of Twiggy, Erin O'Connor, Lily Cole and Myleene Klass as the faces of M & S to Patricia Field's tacky bought-in Sex and the City collection, has become so overblown." [Telegraph]
• Young designer Jens Laugesen's eponymous line becomes a casualty of the economy. [VogueUK]
• Uh oh - now luxury sales are way down, too! [WSJ]
• Angel Sanchez talks bridal for Bristol Palin. Sorta. [Observer]
• New "trashion" line reworks old clothes with local artisans from Sierra Leone, and sells the results for big bucks - some of which help the community. [Independent]
• Pigs tattooed with the Louis Vuitton logo by a conceptual artist have been banned from an art show after they (not surprisingly!) aroused the ire of animal rights activists, people with taste. The artist claims "his pigs are treated humanely and they are given sedatives before being tattooed. Collectors can buy them live or purchase their tattooed skins when they die of old age." [Telegraph]
• Designers - not to mention the rest of the world - will be keeping a close eye on Obama. [WWD]
• YSL continues with the love for classic supermoddles by drafting Claudia Schiffer for spring '09. [WWD]
• Swimsuit model Valeria Mazza may be looking at hard time: she and her husband "are under investigation by the AFIP — Argentina's version of the IRS — for allegedly swindling the gub'ment out of what translates to nearly $2 million in unpaid taxes." [TMZ]
• Great. Apparently beauty creams are chock full of potentially toxic "nanoparticles" and there's no safety testing. [Telegraph]
• In a series of video vignettes, Chanel Iman conforms to every vapid model stereotype! [New York]
• An idea that could only make sense to a fashun type: A $270 satin Moschino piggy bank. [Fashion Week Daily]
• Speaking of job security! Gaultier rumored to be tapping third president in three years. [WWD]

• Venus Williams was awarded with an associate's degree in fashion design from the Art Institute of Fort Lauderdale over the weekend, becoming the first celebrity "designer" to ever get a degree in fashion design. She even got a prize for the "Best Sportswear Collection" and a 3.5 GPA. Also, she has a collection for Steve & Barry's. [Sassybella]
  
• Mango takes a nod from Pedro Almodovar, keeps Penelope Cruz as the face of its brand for a second consecutive season. Now if she could only find a boyfriend with the same devotion! [WWD, 3rd item]
  
• Italian director Franco Zeffirelli wants to give the Pope a makeover. But would the Pope approve of all the gratuitous tit scenes in Romeo & Juliet? [Sassybella]
  
• French Vogue editor Carine Roitfeld is in New York for her lesser-known spawn Vladmir's 23rd birthday. [Fashion Week Daily]

• Film mogul/fat man Harvey Weinstein and Marchesa designer/pretty young thing Georgina Chapman's honeymoon: not so picture perfect. The $250,000 yacht they're renting is unable to enter St. Bart's due to a fuel strike there. We weep for them, seriously. [Page Six]
• The real reason Vivienne Westwood is showing her Red Label line in London revealed at last: She has a coffee table book to promote. This from the woman who wrote the manifesto against capitalism! [WWD, 2nd item]
• New Balance will be releasing a new line of women's shoes called NB Inside which offer style, comfort, and basically no actual athletic usage capabilities. [MediaPost]
• Former Dior Homme designer Hedi Slimane is now in talks with his former bosses at LVMH to start his own eponymous menswear line. Which, we assume, will look just like Dior Homme. [WWD, sub req'd]
• Names to know: Roksanda Ilincic, Richard Nicoll and Jens Laugesen. These designers all won the big prize in the UK's Fashion Forward competition this year, which is basically a guarantee of becoming the Next Big Think in Cool Britannia fashion. [Vogue UK]
• Jeweler David Yurman is coming out with a perfume. There has been no mention of what it smells like. And, surprise, a whole lotta mention on the elaborate-jeweled bottle which will hold it. [Fashion Week Daily]
• Current fashion darling Phillip Lim will be making his debut in Bryant Park during the upcoming fashion show season, which means he's "arrived" or whatever in fashion world terms. [Fashion Week Daily]
• For the first time ever, we are envious of socialites: the society set got to attend a private performance of the Isaac Mizrahi-narrated Peter and the Wolf over the weekend. Mizrahi's costume consisted of a scarf and a fedora. Swoon. [Fashion Week Daily]
• Okay, for the second time today, we are envious of socialites: the rich bitches got to buy the Miu Miu spring collection at a private sale/party Friday night in New York before it goes on sale for the masses this week. [Fashion Week Daily]
• One in four Massachusetts hair and nail salons stands in violation of health codes. And if they're being that poorly behaved in a bleeding heart and highly moral state like MA, we don't even want to think how bad things are here in hedonistic New York. Ew. [BellaSugar]

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