>> Under the guise of “restructuring,” Potsdam-based fashion house Wunderkind has let go most of its 50-person staff, disbanded its in-house atelier, and canceled its March Paris Fashion Week show.

The label was founded by Wolfgang Joop and Edwin Lemberg in 2003 and has yet to break even, although executives said last Fall that they expected the threshold to be hit in 2012. However, Hans-Joachim and Gisela Sander, who own a 65 majority stake in the company, have reportedly become impatient with the pace of change at the brand and are currently working out a new concept and direction with Joop, according to an official statement.

>> Tom Ford and his partner, fashion journalist Richard Buckley, have been together 24 years. Out had each man document his own side of their romance — from how they first encountered one another — when Ford was 25 and an assistant, and Buckley was 38 and WWD fashion editor — at a fashion show, to how their relationship grew. From Buckley's tale: "For our first date, we went to this really sleazy cheapo restaurant on the Upper East Side called Albuquerque Eats — I don’t think it exists anymore. Tom sat there chit-chatting: 'And in 10 years I’m going to be showing my own collection in Paris, and I’m going to be a millionaire, and I’m going to do this, and I’m going to do that.' And I kept thinking, This guy is really naive. But as we talked about other things, it was almost like seeing down a rabbit hole. I felt like I was looking at his eyes, and it was just spinning around and taking me down inside him. I could see he was a good man with a big heart." [Out]

>> Designers like Marc Jacobs and Tory Burch showcased '70s inspired clothing for Spring. Why not jump ahead of the trend and start mixing in some basic pieces now? Wide-leg jeans dipped in dark and light hues cast a flattering silhouette, and flowy tops lend a feminine touch. Check out our svelte picks from Stella McCartney, Topshop, Balenciaga, and Gap for more '70s cool.

>> Former W creative director Dennis Freedman, who left the magazine in March after almost 20 years, has been tapped to replace Simon Doonan as creative director at Barneys. He will start at the retailer on Jan 17.

Doonan, whose contract with the retailer is reported to be up in May, and who is rumored to have tense relations with Barneys new CEO Mark Lee, is moving into a new role as creative ambassador-at-large for the retailer, effective immediately. The change in Doonan's position, which the retailer's announcement release frames as a "promotion," will involve him continuing to be "a key media spokesperson for the company," a contributor to "special window projects," a host of "special events with customers and media," and a "roving ambassador with links to all creative and communication areas including social media."

In the statement, Doonan says: “This exciting evolution of my role at Barneys is brilliant. Change has always been integral to the strength and vibrancy of the Barneys brand. I am delighted to be part of this new chapter." And Lee adds: "Simon has been an intrinsic part of the Barneys DNA for close to 25 years. I am thrilled to work with him and to have him continue to bring his unique wit and multifaceted talents to Barneys in this new role of creative ambassador-at-large.”

Freeman, for his part, will be responsible for the "photographic and video images, graphic design, store design and image, and visual merchandising" of Barneys, Co-Op, and Barneys.com, according to the release. He will also engage artists, designers, and creative collaborators — including Doonan — to curate the Barneys New York windows.

Freeman, in the statement, says: "For decades Barneys New York has stood for creative innovation.  I am thrilled by the opportunity to creatively lead the company forward.  Starting from New York which is the most culturally dynamic city in the world, I will strive to incorporate modern creative energy into the Barneys brand in the years ahead." And Lee adds: "Dennis is a visionary and innovator with great experience and talent across the worlds of fashion, photography, art, design, and architecture. He will bring his tremendous eye and impeccable taste to lead the new creative direction of Barneys New York."

>> Under Carine Roitfeld, Vogue Paris's 2010 revenues were up 12 percent — which is likely why new editor Emmanuelle Alt isn't expected to make huge, sweeping changes to the magazine.

One major thing will be changing for Alt, however, now that she's taken on the role — her strong support and consulting roles as a stylist to Christophe Decarnin at Balmain and Isabel Marant? Kaput. In a statement, Conde Nast France said that Alt would be devoting herself exclusively to her new responsibilities as editor-in-chief of Vogue Paris.

Fabien Baron weighed in on Alt's appointment at the end of last week, saying he thinks Alt might take the magazine more commercial, and now Karl Lagerfeld, who worked with the stylist on Chanel campaigns years ago, says he thinks Alt's strong style could be a double-edged sword: “Her style is her big shoulders, long legs, tight jeans, sleeves up to the elbow, one hip out. I personally like her. She’s a handsome French woman. She has a style, but is it enough to make a whole magazine?”

He added he would wait to have a look at her first few issues before passing judgment, but hopes that she brings change: “As editor in chief, she may blossom."

>> Yesterday, Victoria and David Beckham announced that they are expecting their fourth child come Summer. "Brooklyn, Romeo and Cruz are very excited about the arrival of their new brother or sister," the Beckhams' rep confirmed. It's long been rumored that 36-year-old Victoria has wanted a girl; as she recently said: "I think one day, if we're blessed to have more children, it would be amazing. It's a lot having three boys ... But who knows, one day?" [People]