The long-expected bad news for Lacroix came on Friday, when employees were told that proposed cuts could effectively reduce the label to a licensing operation. The good news is that it’s still not too late for a rich fairy godmother to swoop in and save the day. So, fairy godmother, whenever you’re ready… [WWD]

The power of Michelle has not waned. Talbots moved 3,000 copies of the rose-print silk dress the First Lady donned for the cover of Essence in May, and at $89.99 it’s priced to sell even more. [WWD]

Fresh off his piping-hot underwear ads with his wife, David Beckham is reported to have a new Armani posing partner: Angelina Jolie. If Brad and Victoria are smart, they’ll want to be on set for that campaign. [Yahoo U.K.]