Fashion Industry Awaits Obama’s First 100 Days; Preview Proenza’s New Handbags

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• 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]

• After winning the prestigious ANDAM prize and sponsorship from the British Fashion Council and designing a Topshop collection, Danish designer Jens Laugesen is folding his six-year-old label because of the crappy economy. Sniff. [British Vogue]

• Here's a video preview of Proenza Schouler's new handbag collection. The designers wanted them to look "effed up." [Style.com]

• Twin designers DSquared2 dressed Usher for his "One Night Stand Ladies Only" concert tour. Threads include tuxedos and a custom-made silk robe. [British Vogue]

Heidi Klum spoofs Tom Cruise in Risky Business for a new Guitar Hero ad. Watching it makes us feel really awkward. [My Fashion Life]