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One Direction Sings Carols in Ugly Sweaters, The Jenners Take Over 'Love'

Plus, Halston sells diffusion lines, Alibaba fights fake goods and Wet Seal may be the next teen retailer to close.

Well, isn’t this just a Christmas Card in the making: Last night the boys of One Direction donned their most festive ugly sweaters and sang "Santa Claus Is Coming to Town" with Jimmy Fallon and The Roots. If you haven’t accepted that Christmas Eve is tomorrow (yes, really) this will certainly get you in the holiday spirit. Watch the full video below.

‘Love’ is bringing back the ghosts of calendars past today with Kris Jenner and Kendall Jenner. The mother-daughter duo both had their own days on the magazine's Advent calendar, but came together to rock matching reindeer horns and wreck a Christmas tree. All we can say is that Katie Grand better be getting a very nice Christmas gift from the Jenner/Kardashian family. {LOVE}

Two of Halston’s diffusion lines have been acquired: H by Halston and H Halston were purchased for approximately $27.7 million in a combination of cash, stock and warrants by Xcel Brands, an omnichannel brand management company. Xcel also owns Isaac Mizrahi, Judith Ripka and has an interest in Liz Claiborne New York. The House of Halston will retain the Halston and Halston Heritage brands. {Fashionista Inbox} 

If you’ve been on Alibaba, you've probably noticed the many knockoffs being sold — but that doesn’t mean the e-commerce company isn’t trying to fight off the fakes. According to the Chinese site, it has spent $1 billion renminbi, or $160.7 million, to address the counterfeits as well as consumer protection since early 2013 through November. {WWD}

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It’s no secret that teen retailers are taking a hit, but is Wet Seal the next casualty? The store was successful in the '90s, but the last decade has been marked by an inability to discern its core customer — which could ultimately end in bankruptcy. Our fourteen-year-old selves are crying.  {Buzzfeed}