Saks Fifth Avenue

If you need further proof that Zac Posen's diffusion line exists, the launch party happened last night at Saks in NYC. Actress Rose Byrne, models Tiiu Kiuk and Alexandra Richards, and editors, congregated to check out Zac's latest endeavor. Of the 60-piece lower priced collection, I spy statement skirts, cool cardis, and fine knits — all with a slight preppy vibe. See what went down while Zac was receiving kisses from his models!

Zac Posen is launching a lower-priced bridge collection exclusively with Saks Fifth Avenue next spring. According to Posen, the line—called Z Spoke—has an "urban hipster quality." He added that he could see the collection on Lower East Side girls.

That's a long way from Posen's designer collection, which is heavy on dramatic party clothes and over-the-top evening dresses. Posen says it's not a change of design philosophy as much as an answer to retailers' demand for more American sportswear—meaning he needs to sell some clothes.

Z Spoke will retail from $78 (for a t-shirt) to $675 (for a knit dress) and launch in 17 Saks stores on the same floor as Tory Burch and Elie Tahari.

“To me, it’s more appropriate to build a whole brand and collection around this price point," said Posen. "Chic sportswear should be at this price point. Designer dresses and cocktail pieces should be at a more expensive price point.” Zac Posen's designer collection retails for $900 to upwards of $12,000.

[WWD]

Maggie Gyllenhaal was the guest of honor last night at Saks Fifth Avenue in New York as Louis Vuitton hosted the worldwide launch of their 2010 Cruise line. The company's President and CEO, Daniel Lalonde, joined Saks' chairman Steve Sandove at the "Jardin Louis Vuitton," where other famous faces like Serena Williams, Alexis Bryan and Amy Sacco mingled among the greenery, flowers and a make-a-wish tree.

Maggie apparently didn't feel terribly at home with the plant life; she said her husband Peter Sarsgaard has a greener thumb and she doesn't even know what he grows in their Brooklyn backyard. Model Vika Kuropyatnikova sported a pair of the house's bunny ears, which seemed appropriate for the garden theme.

11/10/09 New York Getty and WireImage

You can tell a lot about a person by looking at their home—Vera Wang's is covered in rhinestones and tulle, Isaac Mizrahi's is perfectly printed in vibrant pink, Diane von Furstenberg's is dripping in leopard and lips, and Sean Combs' comes equipped with a helipad.

Although not real interiors, these papier-mâché houses were created by fashion celebrities coming together to raise money for the Women In Need charity. Each hand-decorated piece will be displayed in the windows of Saks Fifth Avenue in New York and auctioned on charitybuzz.com on November 9th. Check out the gallery below to find out what the houses decorated by Jennifer Lopez, Oscar de la Renta, Justin Timberlake and Trace Aylaya, and the Beckhams say about them.

[WWD]

So maybe you weren't actually going to purchase the $20 million submarine for sale in the Neiman Marcus Christmas catalog, but it doesn't hurt to look, right? Well, actually that may not be the case, anymore. In light of the recession, retailers are scaling back fantasy gifts traditionally offered around the holidays. Take a peek at the scaled-down luxury gifts of the season.

Photos courtesy of Neiman Marcus and Source