Richard Chai

The past four days have been a non-stop party for a lot of fashion people here in New York. And those Halloween parties have been well-documented. The Tribeca Grand’s Overlook Hotel party, the Boom Boom Room’s fete and last night’s V party hosted by Terry Richardson drew the most fashion-heavy crowds and, as we all know, fashion people like to dress up. They also seem to like obscure references–many of their costumes were tough to identify, but still fun to look at. So, from Alexa Chung to Joan Smalls to Marc Jacobs, here are a bunch of fashion people in their Halloween best!

Photos: Terry’s Diary, Paper, Style.com, BFA

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It seemed all of lower Manhattan got their freaky dressing on last night to celebrate the opening of Nicola’s, Nicola Formichetti’s pop-up concept store with BOFFO Building Fashion. The black-leather-filled line that snaked up Walker Street held enough silver studs to decorate a Hun army, and I counted no fewer than six people with primary-colored hair all before even entering MI-5, the uber-cool bar next to the pop-up where Thierry Mugler parfums was throwing the celebration.

The outfits themselves weren’t the only unusual sight. Rarely do you encounter a store in the middle of Tribeca with an interior of fractured mirrors and a giant panda in the window. But that’s Formichetti for you; the Thierry Mugler designer and Gaga stylist is always mixing it up.

So how did it all come about?

“Boffo approached me and asked if I’d be interested in opening a store,” Formichetti told us. “And I was like, ‘Well, it’s not like I’m not busy.’

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For the second time, designer Araks Yeramyan asked a bunch of industry creatives to collaborate on her look book.

Each person selected an outfit from the line, styling and photographing it as they saw fit. Guest stars for Fall 2011 include model Coco Young, director Gia Coppola, designer Richard Chai and blogger Susie Bubble, amongst seven others. Despite the mishmash of personalities, the result is cohesive: the book conveys an off-the-cuff, dreamy feel.

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Another question the Fashionista team is often asked, mostly by design students: “What does it take to launch my own label?”

Well, it takes a lot of hard work, talent, and yes…money.

The big problem: There aren’t a ton of investors willing to put down cash on a new designer. As one serial investor once explained to me, “Fashion is a risky business. But it’s not as sexy as film. Sometimes, people are lured by the glamor, but in general, the return on investment is so unlikely, most aren’t willing to take the risk.” In the movies, on the other hand, investors will still probably get to hang out with the star–even if the film doesn’t make any real bank.

So what’s a young designer to do? Working for a bigger label is always an option. Adam Lippes worked at Polo Ralph Lauren for years before launching his own label. Chris Benz worked at J.Crew. Richard Chai worked at Marc Jacobs and Donna Karan.

Loans from friends and family always help, but we understand that’s not viable for most.

Another way to do it? Get one of the few investors who do spend money on younger brands to notice you. Now, we’re not advocating knocking down these people’s doors. And you’re probably going to have to come up with your own money to establish the company initially. But doing good work and networking should get you closer to your goal. Here are 10 companies/people known for investing in younger brands.

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The long skirt (and dress) comeback is steadily gaining momentum. Whether it’s a backlash against the plateauing popularity of minis, or just another ‘90s trend revival, we’re kind of digging this look. And, given its prevalence on the Fall ’10 runways and even Resort, this trend isn’t dying down anytime soon. But we wondered: Can everyone pull it off?

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Tonight at the CFDA Awards, actor Anthony Mackie said that the event really is like the Oscars of fashion. As one of the few people in the crowd who has attended both ceremonies, he should know.

And it did seem like an abbreviated, less-hokey Academy Awards.

There were skits–Diddy starred in a short that introduced the menswear nominees–celebrity presenters–Isabella Rossellini, Jessica Biel–and even some heartfelt speeches.

Stay-tuned tomorrow for our round-up of the evening’s best-dressed. And now, the winners:

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We’re not huge on sparkles, but when talents like menswear great Simon Spurr, Fenton/Fallon jewelry master Dana Lorenz and It-designers Prabal Gurung and Joseph Altuzarra create with crystals, we take notice.

This morning’s breakfast at Swarovski’s Creative Service Center–which is kind of like a candy store for designers who love crystals instead of kids who love sweets–celebrated the new shine-heavy capsule collection created by the foursome, along with Alexander Wang, Jason Wu, Eddie Borgo, Richard Chai and Patrick Ervell. Each designer, natch, is nominated for the CFDA’s Swarovski Award in his or her respective category.

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Smells like Hot Hipster Model: Dree Hemingway will be the face of Ferragamo’s new fragrance. {Modelinia} When Wardrobe Envy Attacks: Alex Wang merchandising assistant Tara Vasev reveals her favorite things. We want everything. {Jak & Jil} Not Just Another T-Shirt Line: Richard Chai’s collaboration with Alternative Apparel is well worth a gander. {Refinery29 Shops} Hey, [...]

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Barneys is throwing a bash, and everyone’s invited. Designers like Shipley & Halmost and Phillip Lim don’t usually have trunk shows at stores like Barneys, but Julie Gilhart gets that her customers—even the ones who shop at CoOp—want to make sure they get their hands on their runway loves before they sell out. So she [...]

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GQ named Billy Reid the best new menswear designer in America this afternoon. The magazine’s editor-in-chief Jim Nelson, Calvin Klein men’s designer Italo Zucchelli, and a few other industry leaders picked Reid from a pool of six finalists whose looks span the sartorial spectrum from collegiate prepster to urban lumberjack. Reid gets a decent $50,000 [...]

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