There's probably no bigger fashion star right now than Michelle Obama. What do you think she's going to do for American fashion?
I think she's going to be an unbelievable ambassador for fashion. I love her -- especially because she loves clothes. She has such a young take on the whole thing. Young, yet proprietary. She's kind of like the Carrie Bradshaw of the next 10 years.
You were one of the first proponents of 'high-low' style. These days everyone is having to consider what that means. How do you think that phenomenon is going to affect the fashion industry long-term?
Even more than the economy, I think the Obama family is going to affect it. [Michelle Obama] is the perfect example of high-low because she values the J.Crew sweater as much as she does some ensemble by Isabel Toledo. I just think that speaks volumes about the direction everyone has been going in for a number of years.