• The fashion and retail industries will keep a close eye on Barack Obama's economic priorities his first 100 days in office, especially how he handles trade with China, unions, port security, and taxes. [WWD]
• Last night Michelle Obama wore a dress from Narciso Rodriguez's spring 2009 collection, one of the most critically acclaimed of New York Fashion Week. Michelle's style has impressed on the campaign trail with frugal finds from places like J.Crew and H&M and designer threads by designers like Narciso and Thakoon. [NYM]
• Marc Jacobs’s Holiday Party CANCELED. This year's "Rock and Roll Circus" party was scheduled to take place at the Rainbow Room on December 10. But yesterday Jacobs's business partner, Robert Duffy, sent out an e-mail saying the party has been canceled because of the current economic climate.
• Peter Som Launches Children’s Capsule Collection Tomorrow. Luxury children's brand Best & Co. signed the designer to create a seven-item limited-edition capsule collection — four pieces for boys and three for girls — for the holidays, launching tomorrow at Bergdorf Goodman.
• Claudia Schiffer Replaces Naomi Campbell for YSL. Claudia Schiffer will replace Naomi for the spring ads. She recently said at a party that Inez van Lamsweerde and Vinoodh Matadib shot the campaign in L.A. last month. Now we just have to sit back in our sweaters and wait for the ads to break. And for the tabloids to start rumors about Naomi and Claudia feuding, of course.
