Marc Jacobs and his money man, Robert Duffy , have cancelled the insanely popular Jacobs holiday party for this year because of the crappy economy.
Duffy issued the following message on Tuesday:
"Due to the financial climate, I had to make the decision to cancel the 2008 holiday party. It pains me as this has been a Marc Jacobs tradition for the past 18 years. Hopefully it will be reinstated next year."
Hopefully, things WILL be better for EVERYONE next year!
[Image via WENN.]