The economic downturn is sucking all the fun out of Marc Jacobs!
It forced him to cancel his 2008 holiday party and now it's impacting how he'll be doing things at the upcoming NY Fashion Week.
For starters, there will be no MJ Fashion Week after-party, which has always been one of the fashion set's most anticipated events.
And, he'll also scale backhis fashion show guest list.
Only 700 people will get invites this year. In years past the guest list total would get up to 2000!
Marc's bearer of bad news, his business partner, Robert Duffy, told the media:
"This isn't the time to spend the money to entertain the entire world…. Everybody thinks it costs the same money to entertain 500 people as opposed to 2,000 [when you've got the space]. It doesn't. All those 2,000 people still need to be seated, they still need to check in, this one needs this, that one needs that, and you know what? It's very costly."
He also said that he and Marc would rather scale things back at Fashion Week than do lay offs.
We applaud that reason!
Thank your bosses, team Marc!
[Image via WENN.]