H&M's New Line, Imitation of Christ Folds

Given that one obvious way to fill up stores despite the recession is to sell hyped, cheap designer clothes, it's no surprise that H&M has announced another high-end collaboration: British designer Matthew Williamson (left) will launch a line next spring. [Elle UK]
Sad: Upper East Side retailer Linda Dresner, who introduced the likes Yohji Yamamoto, Comme des Garçons, Ann Demeulemeester, and Martin Margiela to New York, is closing at the end of the year. [WWD]
Not so sad: Imitation of Christ, the overpriced and gimmicky label founded by Tara Subkoff and sold last year to Sass & Bide's former CEO Josh Sparks, is no more. [Racked]

Proenza Schouler's new line is named PS1 in honor of New York's public school system, apparently. [Vogue UK]
Being a top international model comes with its hardships, sure, but shoots aren't supposed to be like an episode of Survivor—unless you're in the 2009 Pirelli calendar, which was photographed in Botswana and features May girl Isabeli Fontana with a huge scary bug on her face. [Pirelli Calendar via SassyBella]
The Costume Institute's first fashion audio tour debuted today. Sarah Jessica Parker narrates "with the same breathy relish and melodic rhythm she might deploy to deliver a pun-soaked voice-over as Carrie Bradshaw," says Eric Wilson. [NYT]
Western civilization's most loathed teenager Peaches Geldof has launched her line for London label PPQ, and like everything else right now it's Goth-inspired: She says she "looked at icons like Siouxsie Sioux and Robert Smith, and took notes from Gothic novels like Dracula." [WWD]