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Shanghai Tang's new Madison Avenue flagship had its launch party last night. "Guests...came in for a sneak peek at an ST outpost that's smaller and more focused than the ambitious, multilevel one that crashed and burned a few blocks up the street a decade ago. The brand has been working to reinvent itself with fresh talent: They've poached a print designer from Kenzo, and recently enlisted Lanvin alum Joseph Li to take the lead on ready-to-wear for Spring 2009." [Style File]