Today In Much Needed Extravagance:

Saks & Escada Pull Out The Stops
With A Duffy Concert

Liquidation Update:

Lounge Not Closing,
But Migrating To Sunnier Climes

More Magazine Fallout:

Fashion Rocks
Falls Off The Charts

Fashionrocks Lost amid yesterday's news of Men's Vogue's dramatic downsizing was the fact that Condé Nast's Fashion Week extravaganza Fashion Rocks is going "on hiatus" for 2009.
Shocking? Not really.
The Shophound knows that the supplement and it's flashy variety show were quite the profit center they may have appeared to be. Basically they never made a dime when all was said and done. The profits generated from the annual supplement to every Condé Nast title were sunk into the glitzy TV Special, so the magazines themselves saw little benefit from all their efforts selling ads. Ultimately it was the pet project of one certain executives and not always seen by the various individual titles' publishers as such a great thing.
Will it return in 2010? That depends on the economy and how well the magazines perform, but we're betting that it will never reappear unless it can be expected to turn a real profit, or unless Condé Nast decides to start publishing a Rolling Stone type music magazine.
Condé Nast Cans ‘Fashion Rocks’ (The Cut)

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