• Here's a sign that people are shopping again (or else Victoria Beckham has gone on another shopping spree): Hermès says it's experiencing such "massive over-demand" for its handbags, it's been forced to set up its own crocodile breeding operation in Australia just to keep up. [Reuters via Cut]
• Esteban Cortazar appears to be parting ways with Emanuel Ungaro. It appears he plans to sue Ungaro, too. [WWD]
• Do you control a major luxury brand? Are you a fan of Chloe Sevigny? If you answered yes to both questions, give her a ring. She's willing to talk. [SF]
• A "couture" tattoo shop has opened in the Flatiron district. [W]
• The DKNY mural at Houston and Broadway is officially gone. [BB]

♦ Did you attempt to get your hands on some Comme des Garçons for H&M today? You're braver than us. [Racked]
♦ Cathy Horyn provides a clear-eyed assessment of Barack Obama's sartorial style, pointing out that "his jeans are the loose, jingle-the-change-in-your-pocket type. He belts them at the waist, and when he wears them with white sneakers and a windbreaker, one could almost say he had stolen the look from Jerry Seinfeld's character on the television series." [NYT]
♦ At Diane von Furstenberg's party for Financial Times editor Vanessa Friedman, André Leon Talley broadcast his delight over Obama's victory in the most appropriate way: The back of his coat was emblazoned with "The New American Dream" in crystals. [WWD]
♦ Also gushing about the Obamas? Donna Karan, who says: "I'm hoping to get to work with them—it would be my dream. They are so committed to ideals that are much in alignment with mine." [WWD]

♦ Barneys unveiled its '60s-themed holiday windows this morning, which Simon Doonan was quick to point out only borrow from "the cheery, upbeat aspects of the '60s! No overdoses, assassinations." [NYO]
♦ Downtown is being totally discriminated against by H&M: Only four stores are getting the Comme des Garçons line tomorrow: 51st and Fifth, 59th and Lex, 34th and Broadway, and 34th and Seventh. [Racked]

♦ At yesterday's Fashion Group International panel on fashion retail, Simon Doonan chatted with Sally Singer, Bloomingdale's fashion director Stephanie Solomon, and InStyle's beauty director Amy Synnott about the pervasive doom and gloom in the retail industry. Doonan's take: "It's really terrifying. But I think my job is to sustain the idea that fashion is exciting and glamorous. We really need to do our best even if sales are plunging." [WWD]
♦ When deciding who should front its next campaign, did Louis Vuitton go for someone fresh, edgy, and exciting? Nope, it's supposedly Madonna. [stylefile]
♦ Because now every article on Michelle Obama's person must be identified, priced, and judged: She wore Maria Pinto to the White House, and those dangly earrings she wore on election night? White gold with diamonds, priced at $11,000, and designed by Loree Rodkin. [WSJ, The Cut]

♦ The first looks from Thakoon's Target collection are online, and they're very Talitha Getty. [Nylon]
♦ Stay far away from 52nd and Fifth this evening, unless you want to catch the desire to wear candy-colored velour: Pamela Skaist-Levy and Gela Nash-Taylor are throwing a launch party for Juicy Couture's new store. [Page Six]
♦ It's not only Lindsay Lohan who has seen the potential in leggings: The spring lines from labels like Rodarte and Threeasfour feature printed, cut-out or slashed leggings. [stylefile]
♦ Fashion designer Lisa Perry, lover of all things '60s (and wife of hedge funder Richard), is opening a store in SoHo tomorrow. [The Daily]

♦ Rihanna appeared in the front row at the Gucci show in Milan yesterday and said she plans to launch a clothing line of her own. [WWD]
♦ Robin Givhan reports on a Tod's dinner in Milan with Gwyneth Paltrow (the face of the brand), Derek Lam, and Thakoon Panichgul, who, reports Givhan, was "still giddy" from seeing Michelle Obama in his dress at the convention, especially since she had bought it herself and hadn't been "styled into it." [WaPo]
♦ The Comme des Garçons line for H&M, which is about to hit stores, kind of negates the point of a mass market-designer collaboration: one of the dresses is $350. [Fashionista]
♦ Jonathan Adler's retail empire will expand to Columbus Avenue by the end of the year. [WWD]

• Another day, another new project for Diane von Furstenberg: She's going to be writing a column for Departures, accompanied by her own photography. [WWD]