Jacobs Wrestling Economy

The fashion world shuddered this week when Men’s Vogue announced its absorption into parent magazine, Vogue. Thoughts of Condé Nast staffers stripped of their expense accounts sent a chill throughout the already cool industry. But the real sign of a fashionpocaylpse was an email circulating Tuesday – evoking an even greater feeling of doom than a McCain presidency– broadcasting that Marc Jacobs’ annual holiday extravaganza will be cancelled this year.

Robert Duffy, Marc Jacobs’ money guy, stated in the memo that went out on Tuesday:

"Due to the financial climate, I had to make the decision to cancel the 2008 holiday party…. It pains me as this has been a Marc Jacobs tradition for the past 18 years. Hopefully it will be reinstated next year."

Because Sarah Palin no longer has use for her recently acquired wardrobe, perhaps she will donate it to the cause, so fashionistas can party once, just once this year!

What do you think?

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