Fashion Breakfast: Hemlines and Headlines

After a $15 million renovation Dolce & Gabbana show off their revamped New York flagship store which should bring in about $20 million a year. (WWD)

Philip Shearer decides to exit Estee Lauder Cos. Inc after a six year stint. Could the recent changes in the Lauder succession plan have anything to do with it?. (WWD)

An Elite Traveler magazine survey says Americans with net worths of above $10 Million will spend a record amount this holiday season on ... their holidays. What's on the agenda? Yacht charters and villa rentals. For gifts they'll be buying autos and jewels. Lucky for some. (WWD)

After Burberry creative director Christopher Baily received the Menswear Designer of the Year from the British Fashion Council, he went to Germany to be awarded a Bambi award in front of Tom Cruise, Sophia Loren and Queen Rania. Tonight he and Agyness Deyn throw a party in London to celebrate a new Burberry fragrance. (Vogue UK)

An upside of the weak dollar: profits triple at Tiffany's and sales rise in New York and abroad as foreigners flock to those Tiffany shops. (Bloomberg)