>> Since Christophe Decarnin took over Balmain, it has become known for its sky-high prices as much as its spangled minidresses and pumped-up shoulders; currently, the brand's destroyed t-shirts are selling for $1,624, jackets from $5,333, and runway dresses can be up to $59,856.

But Balmain chairman and chief executive officer Alain Hivelin realizes that such prices leave out a plethora of potential customers, particularly in fast-growing markets like China and Southeast Asia — so he's quietly testing lower-priced possibilities. Already, a Mongolian cashmere range is selling in China, and soon, the brand will test out Blue Label — a clothing collection for Fall, priced 40 to 50 percent lower than the runway line — on the market.