Tory Burch Not for Sale, Bloodbath at Elite Models

Following reports in July that Tory Burch was offering a 30 percent stake in her hugely successful womenswear and accessories label, she now says that the company is not for sale. Also, she says the economy has had an impact on her designs: "I don't think women want to be over-the-top anymore. They want something that's chic and elegant, but not such a big statement." [WWD]
If you've noticed slightly fewer giraffe-like teens with unplaceable accents on the streets of Manhattan, it's because in a sobering indicator of just how bad things are, Elite has slashed 60 models from its roster. [Fashionista]

Ralph Lauren will be feeling pleased today: The 69-year-old has been named the most powerful figure in men's fashion for the second year running. [Vogue UK]
Italian Vogue editor Franca Sozzani clearly wants to maintain the major buzz from her all-black issue: The November L'Uomo Vogue is Africa-themed and features models like Forest Whitaker, Quincy Jones, and John Legend. [WaPo]
Sacha Baron Cohen's international exploits as Bruno? Basically a litmus test of who possesses a sense of humor in the fashion world. Reportedly, Moscow Fashion Week is his next stop. [WWD]
By positioning their products as aimed at recessionistas, companies can persuade consumers it's still OK to shop. [NYT]