Has the crunch bitten Marc Jacobs?

As the crunch digs its teeth in, it seems even the big guys are feeling it. Word has spread today that king of the New York and Paris catwalks, Marc Jacobs, has decided to scale back his upcoming New York show citing the economic downturn.
Usually a huge audience of 2000 are invited but this time round it's looking like a much more sedate 700 will be lucky enough to receive a ticket. To further disappoint the fashion pack, there will be no after-party, often as hot a ticket as the show itself.
"This isn't the time to spend the money to entertain the entire world...." Marc's business partner, Robert Duffy told the media, "Everybody thinks it costs the same money to entertain 500 people as opposed to 2,000 [when you've got the space]. It doesn't. All those 2,000 people still need to be seated, they still need to check in, this one needs this, that one needs that, and you know what? It's very costly."
There's also truth in their theory that it ultimately makes more sense to cut back on such big expenses rather then lay-off staff, so hopefully this is only a minor glitch in Jacobs ongoing world domination masterplan. Don't worry Marc, whatever happens we'll always have Paris.