Last night, Liz Claiborne announced that Isaac Mizrahi will be their new Creative Director. The designer, now best known for the Target collection which brought the mega-chain to the attention of the fashion crowd, is a great catch for Liz Claiborne. The president of the brand said they've "been lacking a clear and cohesive vision" which they hope Mizrahi will fix. Mizrahi, the fashion darling of the 90's, won the CFDA in 1990, but stopped designing for financial reasons just eight years later. Hopefully, this move will help him reclaim his spot in the industry - he says the new position will afford him "fantastic opportunities for growth in my own brand." But we really hope that he and Tim Gunn, Liz Claiborne's Chief Creative Officer, become the best of friends and Isaac ends up as the newest guest judge on Project Runway. (Remember Isaac on the Style channel? Yes, we miss it, too.) Now that would be fierce.