Frida Giannini, Gucci's head designerPhoto: Getty Images

• The luxury market is not immune to these economic times. Gucci's profits are down, we tell you. Down! [WWD]

• French Elle has spawned Very Elle, a magazine all about female icons like Charlotte Gainsbourg and Chloe Sevigny. Apparently it's got more photos than articles. So maybe it's not quite the intellectual women's fashion magazine we've always wanted. [WWD]

• Maria Sharapova had a private powwow with Anna Wintour before her birthday party on Tuesday night. Wintour didn't stay long at the fête, probably because it was at Tenjune. [NYP]

• Donna Karan's daughter is making over the Italian restaurant next door to Karan's new store in the Hamptons. Finally all that LIE traffic will be worth it! [WWD]

• An at-home laser hair-removal device is available for $995. But some women spend $800 to $900 on waxing each year. [WWD]

• The first Hotel Missoni will open in Edinburgh early next year followed by a second in Kuwait. So, uh, book now? [WWD]

• Some shoppers say John Varvatos's store in the old CBGB space smells like booze and cigarettes. Apparently they left the doors open for three months to air out the space, but it still kind of reeks. Oh well. [NYDN]

• Simon Doonan: "Christian [Louboutin]'s shoes are like the circus coming into town... Louboutins are a total drug and there is no methadone." He understands women so well. [WWD]

• Kate Moss buys handbags at Blue Bag on Elizabeth Street. See the store in a video cut with strange gratuitous puppy b-roll. [Times UK]

• Wow, this Website is really going nuts with all the Sex and the City–inspired outfits. That's all fine, but we really don't think Miranda would carry this bag. [TeamSugar]

• If you have a really big scarf and don't know what to do with it, you can tie it into a top. Just please cover more than only the girls if you're, like, leaving your house and you don't live on the beach. [Bag Snob]