>> While Prada is talking to banks about renegotiating its debt to free up cash for an aggressive store expansion instead of taking recent offers to sell a minority stake, Dolce & Gabbana are lowering their prices between 10 and 20 percent.

Stefano Gabbana informed WWD of the initiative, which begins with the Spring 2010 season for both Dolce & Gabbana and D&G, and is intended to be long-term, while "wearing a white shirt, frayed khaki Bermuda shorts and Crocs sandals."  In order to uphold creativity and quality while achieving the drop in price, the designers have diminished their usual selection of hundreds of fabrics to dozens in a more far-ranging palette and made construction of their garments simpler.

So what do the new prices look like? »

>> INSIDER WIRE —Don't expect Gucci or Versace to go for a major resort runway production, a la Chanel. Frida Giannini admits: "Although I have shown the Cruise collection on the runway on a couple of special occasions in the past, I feel that these pre-collections for both men and women, which are ultimately more commercially driven, are more appropriately presented to buyers and press in the showroom."  And Donatella Versace agrees: "[Resort is] a commercial collection and having a full blown runway show can be confusing as it ruins the ‘commercialized’ moment." But Donatella is considering switching her runway shows up: “I’ve been thinking about doing a virtual runway show for over a year — we need to find a new formula.” [NYTimes]

>> THE MODELIZER —Agyness Deyn debuted a new haircut on the CFDA Awards red carpet last night, but that may not be the only change in store: Supposedly, she's quitting modelling and moving back to the UK to get involved in acting — particularly British independent films. She's also moved on from recent flame Alex Greenwald, setting her sights on another musician: The Last Shadow Puppets' Miles Kane. [Daily Mirror]

>> Out of his three total nominations, Marc Jacobs ended up only taking home his shoo-in International Award, but he seemed pleased, accepting the award with teary eyes and stating that he'll stay at Louis Vuitton "as long as they'll have me . . . I love the company, and the people I work with there are terrific."

Awards aside, he's got another big — and more personal — event on the horizon: His wedding to Lorenzo Martone, which is supposed to be happening this month. He confirmed last night that they are "still planning on Provincetown," one of their favorite vacation spots in Cape Cod, Massachusetts where Jacobs's business partner, Robert Duffy, has a seaside home, but is remaining mum on the exact date.  Some locals even thought the festivities took place last weekend.

Katie Grand is getting hitched, too »

>> INSIDER WIRE —It sounds like Olivier Theyskens won't be heading to Schiaparelli after all: the label's owner, Diego Della Valle, now says he doesn't plan to revive the house before 2011; originally he was aiming for 2010.  It's doubtful that Theyskens would want to wait two years before his next runway show, and Della Valle verifies that no designer has been chosen to head up Schiaparelli. “This is not the right time . . . I hope that markets will have stabilized when we are ready for Schiaparelli." [WWD]

>> Over the weekend, a "strongly worded letter" from Vogue UK's Alexandra Shulman "sent to scores of designers in Europe and America" — including Prada, Versace, Yves Saint Laurent, and Chanel — was leaked to the Times UK in what some are calling a publicity stunt.

In the letter, Shulman exhumed the size zero fight, accusing designers of an "increasingly disturbing" practice of sending fashion magazines "minuscule" clothes for photo shoots. "I am finding that the feedback from my readers and the general feeling in the UK is that people don't really want to see such thin girls."

She noted that the samples sent were becoming "substantially smaller": "Nowadays, I often ask the photographers to retouch to make the models appear larger." Furthermore, she wrote: "We have now reached a point where many of the sample sizes don't comfortably fit even the established star models. Instead, we are having to use girls with jutting bones and no breasts or hips, to fit them."

So who's with her? »

>> INSIDER WIRE —Marc Jacobs traded his skirt in for pants last night at the CFDA Awards, while Alexander Wang — who says he started wearing shorts a month ago and hasn't switched back to pants — debuted his "suit shorts" from Comme des Garcons: "I always feel awkward in a full get-up. You’ve got to break it up a little.”  He may break with tradition, but it sounds like the Swarovski Womenswear winner is being groomed for big things — he was discussed yesterday at the Financial Times Business of Luxury Summit as a good investment opportunity, and rumors are circulating that for his Spring 2010 show, his usual stylist Alastair McKimm has been replaced with "a certain godhead of a stylist" who "deemed" to take the gig. [FWD, Style File, Alexandra Wilson's Twitter, The Imagist]

Breakfast at Saks interviewed Sarah King and Tristan Blair, the designers behind label Es Trella. 

Girl Woman Beauty Brains offered readers a chance to win a Luminess Tan Airbrush Tanning System. 

Dreamecho dresses in monochrome and told readers she was experiencing a "blue streak". 

Bag Bliss tempted readers with three little words: Chanel sample sale.