The Row–the upscale collection designed by Mary Kate and Ashley Olsen–has just canceled its show, according to a source close the situation.

“They’re changing directions,” says the source. This would have been the second showing at New York Fashion Week for the label.

Whether this means the designers will be doing market appointments with buyers and editors is unknown, but one has to wonder whether this has to do with funding. While the collection is beloved by editors and stylists, including us, the prices are out of control. No t-shirt, I don’t care who makes it and what it’s made from, should cost $500. That’s probably why there was a ton of The Row product at the Barneys Warehouse Sale. We know that the label laid quite a few people off in early 2009–maybe they’re still struggling to gain momentum post-recession.

But despite the fact that we think some of their prices are crazy, we’re still kind of bummed that they’re not showing. Last season’s collection was stellar. We’ll keep you updated if we hear more.

Update 1: The Row will now show their collection to buyers and editors in Paris instead. Whether or not it will be through private market appointments, a presentation, or a runway show, we’ve yet to learn.
Update 2: The postponement is apparently due to late sample deliveries, according to a statement released by the Olsens via WWD.