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Milan Fashion Week

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Add fashion designers to the long list of people who have no idea how to handle the current economic situation. The WSJ talked to designers showing in Milan, all of whom sound completely blindsided by the events of the last two weeks. "'It's not cool anymore to spend $6,000 on a Chanel jacket,' asserts Enrico Morra, CEO of Piazza Sempione, an Italian maker of tailored clothes. He suggests that Piazza's jackets are much more reasonably priced at less than $2,000." [WSJ]