• Retail on Madison Avenue is a mess, in case you haven't noticed. More than two dozen spaces are currently on the market. [NYT]
• The plan to move Fashion Week to Lincoln Center beginning in 2010 is a done deal. [WWD]
• Jason Wu has postponed plans to launch a fur collection this fall. The Humane Society is very pleased, unsurprisingly. [WWD, WSJ]
• Liz Claiborne is cutting 725 jobs. [MW]
• Giorgio Armani has stirred up scandal with his comments about Italy's fashion scene, and his suggestion that Paris is where it's at. [Reuters]
• Scandal! Scarlett Johansson is now a brunette. [SW]

A bevy of models turned out on Wednesday night to celebrate Australian photographer Russell James' new book at the Stephan Weiss studio. Host Donna Karan and guests like Alan Cumming, Desiree Gruber, Ally Hilfiger, Douglas Hannant, Veronica Webb, and Josh Bernstein mingled with models like Alessandra Ambrosio (left), Angela Lindvall, Erin Wasson, Doutzen Kroes, Brooklyn Decker, Noemie Lenoir, Julie Henderson, Zuzana Gregorova, and Oluchi. [PMc, Wireimage, FWD]

• Copies of Michelle Obama's Jason Wu-designed inaugural dress are on the way. Serial knockoff artist Allen Schwartz says the $300-350 gowns will be in stores by March/April, just in time for prom and bridesmaid season, naturally. [USA Today]
• Alexander Wang is launching a men's collection. [SF]
• Michael Kors has a lawsuit on his hands. [LAT]
• Target is cutting 600 jobs. [WWD]
• Did the Times out Jason Wu last week? [NYM]
• Fashion feud of the day: Anna Wintour and Sienna Miller. [SL]
• Brooke Shields has signed on to be a spokesperson for Coppertone. [SW]
• Surgery to correct "moobs," or man boobs, is now the most popular plastic surgery procedure for men in the UK. And now you know what you get your chubby husband for his birthday. [DM]

The rumor is that Jason Wu, the hot young designer of Michelle Obama's inauguration dress, was upset that the New York Times outed him in a story. But was he really "in?"

• Kanye West's very colorful line of Louis Vuitton sneakers made its grand debut in Paris yesterday. [WWD, SW]
• Jason Wu talks about Tuesday night's inauguration ball excitement and what he was eating (a pepperoni and mushroom pizza from Domino's) just before Michelle appeared on stage. [NYT]
• Taiwan is understandably proud of their hometown hero. [WWD]
• Barneys could fetch $300-400 million if it sells, a far cry from the $942 million Istithmar paid for the retailer in 2007. [NYT]
• Been waiting to see Bruno hit the big screen? Wait a little longer. [FWD]
• Posh sucks her thumb on the February cover of Russian Vogue. [VogueUK]
• Sao Paulo Fashion Week ended today; leave it to the Brazilians to power through the grim times with smiles on their faces. [AFP]

• Malia is totally into "pleats and pared-down things," but is not a "huge fan of sparkles." Sasha, on the other hand, totally adores "bright colors and sparkly things." Could America's first daughters be any cuter? [WSJ]
• IMG would really love it if Michelle Obama turned up for Fashion Week next month. [SF]
• The mood was not very cheery at Men's Fashion Week in Milan, reports Guy Trebay, who says designers appeared to be reacting to the downturn "by staging a mass memorial for themselves. [NYT]
• Rumor has it 60 Minutes is planning a story on Anna Wintour. [NYM]
• Is Barneys' parent company putting the retailer up for sale? [BN]
• A sneak peek at Scarlett Johansson's new ads for D&G makeup. [SW]
• Not surprisingly, Jason Wu's website has been flooded with traffic. [FWD]
• Christian Lacroix's fab Paris apartment is up for sale. [Fashionologie]
• Sad and very disturbing: Brazilian model Mariana Bridi had to have her hands and feet amputated due to a life-threatening blood infection. [NYDN]

• Jason Wu's reaction to the news Michelle Obama was wearing his white chiffon gown to the inaugural balls? "I just dropped everything and jumped up and down and screamed." [MSNBC, WSJ]
• Simon Doonan was so overjoyed by Michelle's pick of Isabel Toledo yesterday that he "tore down the normal Barneys windows on Madison and put up celebratory Isabel Toledo window installations instead." [Fashionista]
• Best Wu-related fashion headline of the day: "Jason Who?" [NYO]
• Barack Obama may have worn a bullet-resistant suit to the inaugural parade yesterday, in case you were wondering. [NYM]
• Michelle donned a Tracy Feith dress to today's official prayer service. [WWD]
• The official Fashion Week lineup features 73 names, down from more than 80 in September. Also: Kelly Cutrone is discounting prices for designers. [WSJ]
• Sales at Coach are down and the chain's scaling back expansion plans. [AP]
• Are scrunchies making a comeback? [Pipeline]

• Two people very happy this evening: Jason Wu, who designed Michelle Obama's one-shoulder white chiffon gown; and Isabel Toledo, of course, who was responsible for the lemongrass-yellow coat and matching dress that Michelle wore to the inauguration. [NYT, AP, WWD]
• As for Malia and Sasha's outfits—and Michelle's olive gloves—don't go searching for them at J. Crew just yet. The pieces won't be available to the general public until fall. [Reuters]
• Trousergate, fashion's latest catfight: Giorgio Armani has accused Domenico Dolce and Stefano Gabbana of copying his quited trousers; bitchy comments on both sides have followed. [Guardian]
• A first look at Alexander McQueen's new line for Target. [Nylon]
• News flash: There aren't that many blacks on the catwalks these days. [NYT]
• Profits are up at Burberry, but the company is still cutting staff. [WSJ]
• Aretha Franklin's inaugural hat can be yours for $179. [WWD]

♦ Christian Siriano plans to make it work with Payless: The Project Runway winner is teaming up with the company on a line of footwear and handbags that will launch next fall. [NYP]
♦ Today was Cyber Monday, the day when online retailers kick off the holiday season with super-steep discounts. It didn't turn out to be a great day for Bloomingdale's and J. Crew: both watched their websites crash this morning. [Crain's, USA Today]
♦ In case you forgot to issue your congratulations, Anna Wintour headed off to Buckingham Palace last week to pick up whatever is it you are given when you're named an Officer of the Order of the British Empire. [Vogue UK]