>> Interior Designer to Alexander Wang, Now to the Models? —Last night, Natasha Poly, Victoria Traina, and Alexander Wang teamed up to celebrate the launch of interior designer (an co-owner of Edon Manor boutique) Ryan Korban's signature website at the Soho Grand Hotel. Korban and Wang have been close friends since they went to college together — they collaborate often, on Wang's offices, for one — and Natasha Poly's up next — Korban will be doing an apartment she has yet to buy.  No doubt, he'll have more models than just Poly to add to his client list soon — we counted over 25 showing up to the fete, including Maryna Linchuk, who palled around with Poly, Jessica Stam, Hanne-Gaby Odiele, Mirte Maas, Olga Sherer, Iris Strubegger, and Rose Cordero.  One more tidbit that Poly let fly: she may not be doing the Victoria's Secret Fashion Show for the second year in a row — she has to choose between that or a shoot in Morocco. [Style.com, Modelinia]

>> Taylor Jacobson, one of Rachel Zoe's co-stars on The Rachel Zoe Project (and real-life employees), has been itching to go out on her own for both seasons of the show now, and it sounds like she finally did.  DKNY's PR just Tweeted at Taylor: "OMGGGG @TaylorJacobsonn I just got your email.. BEST of luck!!! Cannot believe you are leaving but I know you will rock on your own too!"

Fashionista got ahold of the email Taylor sent out to contacts:

After four amazing years at Rachel Zoe Corporation, I’m saddened and exhilarated at the same time to announce my departure. After much thought and consideration, I have decided to take the challenging leap to go off and style on my own.

And Taylor herself just Tweeted: "Today is an end of an era and a beginning of a new professional chapter. Looking forward to what the future brings...!!!"

>> Prada Could Become Even More of a Family Affair —Prada CEO Patrizio Bertelli wants you to know that he and wife Miuccia Prada are both in good “physical and psychological shape,” but their 19 and 20-year-old sons Giulio and Lorenzo, who Miuccia doesn't like to talk about by name, could be joining the company at some point. “But if they do, they will start out as warehouse keepers.”  He also mentioned that upgrading Prada's website is a major priority: "Ideally, I’d like to sell clothes online that aren’t in stores yet and make them look catchy, not like a catalog." [WWD]

>> Matthew Williamson Is "Pretty British" When It Comes to Food —Matthew Williamson is preparing to launch menswear next February and e-commerce at the end of this month, but in between his busy schedule, he also likes to take holidays. "I'm out of the country at least once a month, exploring new places for work as well as pleasure, and returning to favourite haunts such as Mykonos and Ibiza for holidays. This year, I've been to Cape Town, Tulum in Mexico, Cuba, Rio de Janeiro, Turks and Caicos and New York." When it comes to food, however, he's not so adventurous: "I'm afraid I am pretty British in my tastes – wherever I am, steak and chips is my thing. No vindaloo or hot Thai curries for me, thanks." [Elle News Blog, Telegraph UK]

>> Billionaire Lakshmi Mittal's 33-year-old daughter-in-law Megha Mittal, who has been looking to make an investment in the fashion industry for the past year and previously expressed interest in Gianfranco Ferre, will acquire Escada for an undisclosed price.  Mittal won the bidding war against Sven Ley, son of Escada founder Wolfgang Ley.

The management board and the new investor "have agreed to cooperate on the basis of the business strategy launched in mid-2008 securing continuity of the operative business," according to a statement released; the previous board of management will stay intact.  Mittal supports Escada CEO Bruno Saelzer's intentions to turn Escada from the eveningwear legacy of its heyday into more affordable daywear.

>> Versace is definitely feeling the economic crunch, completely pulling out of Japan, where it's had a presence since 1981, and announcing impending layoffs of over a quarter of its current workforce.  But Donatella Versace aims to keep up appearances — she sponsored the Whitney Museum Art Gala in New York two weeks ago, jetted off days later to Rio de Janeiro for a Fashion Rocks event, and has just named Georgia May Jagger, Jerry Hall and Mick Jagger's 17-year-old daughter, the face of her Spring 2010 campaign, as photographed by Mario Testino. She also refuses to take off her stilettos, except for at the gym.

The New York Times's Eric Wilson caught up with her when she was in New York, staying under the name "Mrs. Montez" in a suite at the Waldorf Towers.  When she first took over Versace, she says, “it was not easy to believe in myself or the future. Everyone was looking at me like a savior, and I had to have this image of this powerful strong woman, which I am not.”

"You have to face the truth" »

>> Angels Said to Be Reenacting "Freedom! '90" Video for Victoria's Secret Fashion Show —Victoria's Secret just announced five new Angels, but expect Alessandra Ambrosio to take a starring role in this year's fashion show — word is she's driven the most sales for the brand since Gisele Bundchen left. The Angels have supposedly taped a new version of George Michael's iconic supermodel-riddled "Freedom! '90" video for the Victoria's Secret Fashion Show, with Alessandra reenacting the scene Cindy Crawford originally performed, nude in a bathtub. [RG Vogue, AAOF]

>> Tom Ford is mulling a return to women's fashion as early as next season; he feels like fashion has floundered since he left Gucci in 2004, he told W, and wishes the decade didn't have such a lack of definitive looks: "I don’t mean that that has anything to do with my leaving. I could feel [fashion] starting to flounder before I left, which helped me feel good about getting out at the time.”

But it wasn't all good: Ford had "a pretty intense midlife crisis" two years before leaving Gucci, around his 40th birthday.

“I started to sink emotionally, spiritually. I became a little bit lost. Leaving Gucci, it intensified because I had been able to cling to my job and to my work and to my identity as a successful fashion designer, and all of a sudden that was gone. It forced me to really think, Well, what am I, who am I, what am I about? It took me a bit of time to figure that out. I think this happens to most people in their life if they’re insightful enough to indulge it and to get through to the other side.”

 "I hope I don’t come off sounding too rich and spoiled." »

>>  Anna Wintour, Tom Florio Get New Gigs —Changes are happening all around for Anna Wintour — her fundraising efforts and continual Obama administration support have earned her one of the 25 spots on the new President's Committee on the Arts and Humanities.  The committee, which also includes Sarah Jessica Parker, Forrest Whitaker, Teresa Heinz Kerry, Yo-Yo Ma, and Bryan Lourd, co-chairman of Creative Artists Agency, will advise the President on how to expand the role of arts in society.  She's also getting a new colleague: Vogue and Teen Vogue publisher Tom Florio is becoming SVP and publishing director at Conde Nast, adding Bon Appetit and Conde Nast Traveler to his portfolio, while Susan Plagemann, VP and Marie Claire publisher, will report to him as the new VP and publisher of Vogue starting Jan. 4. [WWD, WWD]

>> Escada, which has floundered in recent years and ultimately filed for bankruptcy in August, is expected to have a new owner by the end of this week, sources told Reuters today.  Three bidders are in the running — among the most serious are Sven Ley, son of Escada founder Wolfgang Ley, who teamed up with former Gucci head Giacomo Santucci and Italian investment group Borletti (which also recently made a bid on Christian Lacroix) and Megha Mittal, daughter-in-law of billionaire Lakshmi Mittal.

If Ley's group wins out, they plan to replace current Escada CEO Bruno Saelzer with Santucci, whereas Mittal supports Saelzer's approach of turning the brand away from its evening gown legacy and repositioning it in affordable luxury.