>> INSIDER WIRE —Speaking of awards, Rodarte won double honors — 100,000 euros for the Swiss Textiles Award, the first American designers to ever do so — last night.  The prize, which Laura and Kate Mulleavy snatched over fellow nominees Richard Nicoll, Louise Goldin, and Jean-Pierre Braganza, is to be used to fund international development of the brand.  Last year's winner was Marios Schwab. [Style File, WWD]

>> The CFDA has been busy lately, discussing the possibility of sponsoring sample sales for designers who don't have enough resources to do it on their own, commissioning books — including a fashion-related cookbook, and announcing an upcoming three-year partnership with Mattel.  But Monday night, we'll learn which of the 2008 CFDA/Vogue Fashion Fund nominees will take home top honors, $200,000, and business advice, who will score one of the two runners-up titles and the $50,000 that comes with them, and who will try again next year.

The first award was given in 2004, with top honors going to Proenza Schouler; since then, Trovata (2005), Doo.Ri (2006), and Rogan (2007) have taken the top prize, and the likes of 3.1 Phillip Lim, Philip Crangi, Rodarte, Thakoon, Derek Lam, and Thom Browne have all been runners-up.  Without doubt, the winner generally has name recognition — and is in favor at Vogue — but tends to not be the biggest name in the group (i.e. Rogan over Phillip Lim last year).

So who will take all? »

>> INSIDER WIRE —Julia Restoin-Roitfeld spent her 28th birthday earlier this week in Barcelona, shooting the Mango spring catalog with her brother Vladimir, but they joined parents Carine Roitfeld and Christian Restoin, Giovanna Battaglia, and Lara Stone last night at Indochine in New York.  Sounds like Lara isn't doing the VS Fashion Show, after all . . . [Chic Report, Chic Report]

*image: source

There's nothing more satisfying than a round up of fashion happenings on a Friday afternoon--really, it's like getting ready before prom. 

The Budget Fashionista wrote about the Hayden Harnett for Target handbags--soon to hit shelves. Like Anya Hindmarch we're enchanted by bags from both price points. 

Last time we went to deal with our taxes, our outfit wasn't something you'd exactly call fashionable. Kingdom of Style shows us all up in her remarkably affordable, errand-running outfit. 

M.I.S.S. Crew hits up a pop-up in Costa Mesa with ever-changing artwork--this time around, the space is decorated with artwork from Greg "PNUT" Galinsky. If we lived in California we might have a clue who this Mr. PNUT was.  

The mother of all Friday afternoon links...Stylebubble goes to a press preview for Topshop Spring 09. Buy a hat and hold on to it. 

>> INSIDER WIRE —The results are in and, as expected, it's not looking pretty.  A number of fashion magazines saw their ad pages drop by double-digits in 2008: W lost 12.7 percent, Teen Vogue is down 10.2 percent, and Vogue, which had a record-breaking year in 2007, declined 9.6 percent.  For the latter, the results burn even more, as Elle gained 3.2 percent over 2007, and Harper's Bazaar only lost 0.3%. 

Granted, in overall numbers, Vogue (2,893 ad pages for 2008), still trumps Elle (2,578) and Harper's Bazaar (2,067), but the losing trend can't be good — maybe the rumored Michelle Obama and Blake Lively covers will give them the boost they need in 2009? [WWD]

This young designer has been praised by everyone from Jefferson Hack to Diane Von Furstenburg and has been referenced as the embodiment of London fashion right now. Louise Gray, for her Spring 2009 collection, showed pop art-inspired garments and amazing chain pieces that walked the line between jewelry and clothing item. Gray is trained as a hand embroiderer and she earned her MA at Central Saint Martins. Immediately following her graduation the designer was tapped to participate in the Fashion East program, backed by Topshop, and she has gone on two show all three of her collections through this venue--something which no other designer has accomplished to date. Check out our video of her Spring 2009 collection right here, the runway gallery right here, and the showroom photos, below.