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The article reports on the impact of the Wall Street fallout to luxury market in New York City in 2008. Dan Farrington of Mitchells cited the collapse of Lehman Brothers, government bailout of American International Group Inc. and sale of Merrill Lynch & Co. to Bank of America Corp. as reasons behind the fallout. He asserts that Saks Inc., which shares declined nearly 15 percent in trading, is likely to suffer.

The article offers information on the expected fashion designs and collections of clothing designers and consumers during the New York Fashion Week in New York City. Due to economic downturn, designers target to showcase spectators and consumers a line of clothing that will satisfy longevity and pricing quality. In addition, several designers projection on the aspects that will be targeted by consumers are included. Comments and expectations of retailers in the show are also posted.

The article focuses on a gathering of former and present baseball players, including 49 Hall of Famers, on the occasion of the 79th All-Star Game at Yankee Stadium in New York City. It is reported that the game was the longest in its history with nearly five hours and 15 innings. The players were confident about their best outfits while they rode on red carpet up Sixth Avenue from Bryant Park to Central Park.

The article reports on the concept of the newly opened restaurant, Forge, in New York City by owners Marc Forgione and Chris Blumlo. For many restaurateurs, fine dining without hassle still proves difficult to execute. However, Forgione and Blumlo planned it well after their ideal dining experience where good music, good food and an experienced staff are present. The new restaurant serves American cuisine to a mixed crowd of Patrick Bateman types.

The article reports on the opening of the first flagship boutique of Josie Natori at Saks Fifth Avenue in New York City. The boutique is dedicated to foundations and daywear under the Josie Natori label as well as luxe at-homewear items bearing the Josie Natori Couture label. According to Ron Frasch, president and chief merchandising officer of Saks Inc., the addition of the Josie Natori label is a big business for the company.

The article focuses on the "Accessorie Circuit and Accessories The Show" exhibition held in New York City, which focused on improving the U.S. economy. Brad Frey, president at DP Accessories mentioned that stores were focused on making right choices with right product. Alexis Bittar noted that lower-priced pieces do well. However, some brands mentioned that they do not face the pressure. A crowd gathered around the firm Dogeared Jewel & Gifts' canvas totes that wholesale for $10 to $12.50.