Even Donna Karan and Calvin Klein aren't immune to the economic downturn. At ACRIA's thirteenth annual holiday party last night, held at Donna Karan's Urban Zen boutique, both Karan and Calvin Klein's Francisco Costa revealed that their fall collections will probably be smaller than in the past. "With a collection … you want the most creative, the most beautiful, the most well made — we're not cutting when it comes to that," Costa said. "Maybe the collection will be a little smaller, but it will still be exciting." Costa acknowledged that Calvin Klein budgets had been cut for the next couple of years — "nothing damaging, but what's consistent with our reality." Karan is in a similar boat and told us she was "desperately" trying to make her fall collection smaller.
Costa wouldn't reveal the inspiration for his fall line because he wants us to be surprised. Karan also dodged the question but noted, "I just came back from Washington and was affected by the importance of executive women's dressing, women's power." She said she scoped out all the women senators, adding, "I thought they were beautiful." So are punchy pantsuits in her future? We'll find out in less than ten weeks!