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Jones Apparel Group reports that it is receiving more bids for Barneys. Fast Retailing upped its bid to $950 million in cash and Istithmar upped its bid to $900 million in cash. Istithmar has until Wednesday to respond to Fast Retailing's offer.

Jones entered an agreement with Istithmar for $825 million on June 22nd, but was allowed to consider outside proposals. If they decide to break the Istithmar agreement in favor of going with Fast Retailing, they will have to pay Istithmar a $22.7 million termination fee.

Ruth Finley, Fashion Calendar president, the one bestowed with the ever-important power of creating schedules for fashion week, has been injured in a car crash just one month before the approaching fashion week, Fashion Week daily reports. She is okay, however, although she notes that "If not for seatbelts, I would not be here.” It is reported that the Fashion Calendar president was riding in a friend's car on her way to New Jersey when a truck hit the passenger side of the car at at least 50 miles an hour.

She is now strapped in a wheelchair, which presents problems for fashion week. “Two hundred shows in seven days this season. Parties and problems.” Here's to wishing her a speedy recovery and a great Fashion Week!

Source: Fashion Week daily

Diane von Furstenberg recently threw a lavish party to welcome the new members of the CFDA. Tons of classic longtime designers - Tommy Hilfiger, Italo Zucchelli, Peter Som - mingled with the 30-some newbies of the CFDA, including Tory Burch, Pina Ferlisi, Jessie Randall, Kate and Laura Mulleavy, and countless others at the DVF studio. And of course, what would any fashion party be without the presence of everyone's favorite designer of the moment, Philip Lim? It's incredible how fast he has gone from newbie to experienced designer, with his own flagship store and all kinds of media attention.

Source: Fashion week daily

Fashion Week Daily and Women's Wear Daily were both reporting today that the notorious Prada Group is selling 100% of the capital of Azzedine Alaïa Sas back to its original owner.

“I thank the Prada Group for its valuable and total support to the Alaïa brand during the last years. I thank particularly and personally [Prada chief executive] Patrizio Bertelli for the attention and the sensitivity that he had and continues to have in support of my work and I wish him all the success he deserves for his group.”

I think it is wonderful to see Alaia return to its rightful owner. Azzedine Alaia is definitely a very talented designer who doesn't get as much attention as he quite deserves...remember that one scene in Clueless when the thug asks Alicia Silverstone to get down on the ground? And her response is something like "i can't! This is an Alaia!" :)

Recognize the names Jens Laugesen, Richard Nicoll, Aleksandar Stanic and Fiona Sinha? If not, familiarize yourself with these names now, because they all were today named Fashion Forward's winning designers for 2007, at a party hosted by the British Fashion Council.

Present at the party were Agyness Deyn, Henry Holland, Liberty Ross, Ruby Stewart, Jasmine Guinness, Harry Potter star Katie Leung, and Daisy de Villeneuve, and even Giles Deacon.

All the winners will be presenting collections at London Fashion Week in September, and as part of their awards, are receiving financial assistance and business mentoring to do so.

"It’s been the making of a whirlwind moment,” said Laugesen. “All this attention is incredibly rewarding.”

Nicoll said “This is a huge honor, one that will help me a great deal.”

Stanic, meanwhile, represented her label after her design partner was called away on a family emergency. “Aleksandar’s mom broke her arm,” she offered, “but she would’ve loved to have been here.”

Photo: Designer Richard Nicoll. Courtesy of Fashion Week Daily