Vera Wang Drops Out of Fashion Week

The designer drops out of Fashion Week due to the poor economic climate.
The list of well-known names opting out of presenting at the tents—which costs between $100,000 and $750,000—is growing. Betsey Johnson and Carmen Marc Valvo have also canceled.
There is no denying that the current economy is impacting the fashion industry as much as it has other industries.

Jeremy Scott for Adidas

Sergio Rossi for Puma

Kartell Launches Shoe Collection

The first shoe collection of furniture manufacturer Kartell will be available in boutiques starting January 2009.

Shalom Harlow for Purple Magazine

Milan Men's Fashion Week- Drop One Day

After Fendi became the latest brand to cancel its catwalk (as Marni and Valentino already did), Milans Men's Fashion Week is to revert back to four days in January.
Fendi will present the collection by private appointment in Rome.

Obama's New Tux

Its been 15 years since President-elect Barack Obama has bought a new tux- the inaugural balls on January 20 will be the perfect occasion to break that string. Obama plans to wear a union-made tuxedo by the Chicago-based men's wear firm Hart Scaffner Marx.
The big day is expected to draw from 1 to 4 million people to Washington.

Harry Winston Paris Store Robbery

Just over a year after a similar raid on the same Harry Winston store on the Avenue Montaigne, another meticulously planned robbery took place yesterday.

Millions of euros were stolen. The cheapest piece they stole was a platinum ring worth €2,000. The most expensive item: a €3.2 million diamond-studded bracelet.

A reward of $500,000 USD (352,000 €) has been offered by Harry Winston in Paris for any information leading to the recovery of the stolen merchandise

H&M Introduces Home Collection

H&M is launching a cheap and chic home design collection with on-trend home textiles and accessories.
The first collection will only be available in Sweden, Norway, Denmark, Finland, Germany, Austria and the Netherlands.
No date has been set for the US just yet, but it's something worth waiting for!

No Trendy Tennis Shoes in NY Prisons

In order to avoid tension between prisoners, New York prisons decided to ban prisoners from wearing trendy tennis shoes.

Katie Holmes- New Face for Miu Miu

It had been rumored for weeks that Katie Holmes would be the summer 2009 face for Miu Miu's campaign.
It is now confirmed that she will indeed follow in the steps of Vanessa Paradis, Lindsay Lohan, Drew Barrymore and Kirsten Dunst.

Princesse Tam-Tam Founder Dies in Mumbai Attacks

Loumia Hiridjee, the 47-year-old founder of women's fashion brand Princesse Tam Tam, came from a family of Indian merchants who had settled in Madagascar. She and her sister, Shama Hiridjee, studied in France and created Princesse Tam Tam in 1985.
Loumia and her husband Mourad Amarsy had been dining Wednesday at the Oberoi Hotel in Mumbai. The hotel was among the sites targeted in the terrorists' spree of violence in India's financial capital.