Fashion designer Tory Burch and her ex-husband, venture capitalist Chris Burch, went their separate ways back in 2006. But it looks like the couple is of one mind when it comes to Hamptons real estate. Over the summer, Tory received permission to tear down her Southampton home and upgrade to something bigger and better, a plan she abandoned recently since she's now preparing to move to a much grander—and much more expensive—estate nearby. And now Chris is looking to gussy up his digs in Southampton, too.

• Julianne Moore's West Village townhouse is up for sale. Moore picked up the five-story, six-bedroom home on West 11th Street for $3.5 million in 2003. It can now be yours for $11.95 million. [NYO, Sotheby's, Curbed]
• Emeril Lagasse has closed on the purchase of developer Penny Bradley's 6,900-square-foot townhouse at 158 East 61st Street for "around" its most recent asking price of $11.5 million. Now that he's found a new place to store his pots and pans, the chef and Food Network fixture has put his condo at the Beekman Regent up for sale for $5.995 million. [NYP, BHS]
• Chris Burch, the entrepreneur and ex-husband of Tory Burch, has picked up a new Hamptons home. Burch paid "around $9 million" for the Southampton estate of disgraced Bear Stearns exec Ralph Cioffi. The property had been listed at $10.7 million when it went into contract last month. [NYP]

• The latest ad campaign for Chanel handbags, shot by Karl Lagerfeld himself, features a very Holly Golightly-looking Lily Allen. [Pipeline, Cut]
• A new front-runner has emerged to possibly take over struggling Christian Lacroix. This time it's Italian retail giant Borletti. [WWD, AFP]
• More trouble for American Apparel and its founder Dov Charney? An anonymous store manager reports Charney has been busy firing employees "he deems unattractive." [Gawker]
• Amber Valletta is the latest supermodel to launch a clothing line. [Cut]

If Tory Burch is feeling the effects of the economic downturn, she certainly isn't showing it. The designer and social fixture is now petitioning Southampton's Architectural Review Board for permission to demolish the Meadow Lane home that she purchased for $22.5 million earlier this year.

This isn't the best time for a socialite to be pitching a high-end lifestyle brand. But you can't blame Tory Burch for trying to remake her image to suit the current economic climate. Burch, who is now preparing to introduce her line to British shoppers, "has created the go-to brand for affordable luxury" and is now a "portal to accessible chic," reports the Sunday Times. And she expects her line to continue to grow as hedge-fund wives "downgrade from Hermès and Halston." "We have a lot of designer customers shopping in our stores who think of us as their Gap," Burch explains. As for her high-profile split from ex-husband Chris Burch and the handful of men she's been linked to since then (including Lance Armstrong, Ron Perelman, and Lyor Cohen), don't think for a minute she's been pleased to see her name in the news: