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Fashionista Alert: Isaac Mizrahi's Claiborne Debut!

Back in April, I reported that Liz Claiborne's new CEO, Bill McComb, had snagged Target's fashion weapon, Isaac Mizrahi, for his own arsenal. For those fashionistas who've been waiting with bated breath to see what kind of sartorial magic Mizrahi would bring to floundering fashion icon Liz Claiborne, you can breathe again. A sneak peak of Isaac's first collection as creative director of the $5 billion public company is now on Liz's website. Thankfully, Mizrahi's explosive colors and fashion-forward cuts resemble nothing close to your mother's Claiborne frocks. They're kind of fabulous (I'm loving the white high-waisted bellbottoms!).

Perhaps Mizrahi will be able to do for Claiborne what he did for Target: Pump the now dowdy brand back to relevance. And the beleaguered company needs it. Just yesterday it announced an 8% staff reduction across its stable of brands, which also include Kate Spade, Juicy Couture, and Lucky. You can bet Tim Gunn has his finger's crossed. I know Liz's shareholders do.