Cityfile: New York's Most Notable and Influential

Things to Be Thankful For: Tourists in Midtown | And you thought Manhattan's retail market was struggling. Fifth Avenue in the 50s is doing just fine thanks to tourists with foreign currency to blow on discounted American goods. The former Brooks Brothers store at 666 Fifth Avenue is now up for grabs and five major chains are currently vying to take over the space (which costs $30 million a year to rent): Uniqlo, Topshop, Zara, Century 21, and Forever 21. So instead of sneering at the next camera-toting German couple who bumps into you on Fifth, thank them for their patronage and move along, okay? [NYP]

• The new H&M at 86th Street and Lexington opens at noon tomorrow. [AFB, Racked]
• Scarlett Johansson is replacing Penélope Cruz as the face of Mango. [WWD, SF]
• For the first time, the CFDA is tacking on a "Popular Vote Award" to this year's show. As the name implies, it will allow the public to weigh in, shockingly. [WWD]
• What's Kate Moss's novel going to be about? "A young model's life as she goes from a nobody to an A-list star." Sounds familiar, no? [NYDN]
• Marc Jacobs hosted a 30th birthday party for fiancé Lorenzo Martone last night at the not-yet-open Avenue. Julia Restoin Roitfeld and Genevieve Jones (above) were among the 150 people on hand for the occasion. [W]More

• The Costume Institute Gala is a mere five days away. Fashion Week Daily has a roundup of who's going, who isn't, and what everyone will not be eating. (Chicken, in case you were wondering.) [FWD]
• The Observer on Alexandra Kotur, the "Viscountess of Vogue."  [NYO]
• It seems some women are so addicted to the discount designer site Gilt Groupe that they're practically going bankrupt buying stuff they really don't want or need. [TDB]
• It's official: Madonna is attached to Louis Vuitton's new ad campaign. [Grazia]
• Isaac Mizrahi rang the closing bell at the New York Stock Exchange yesterday. The market has been having a surprisingly solid week so far. Could the two be connected? We'll say yes, if it's okay with you. [Facebook, WWD] More

• The model-centric cover of the May issue of Vogue—timed to coincide with the model-centric Costume Institute Gala, of course—has been revealed. And for the third month in a row, a black woman (Liya Kebede) makes an appearance. [Style.com, The Cut]
• Oscar de la Renta appeared on The View today to try and dig himself out of the giant PR hole that followed his not-so-sweet comments about Michelle Obama in recent weeks. [Jezebel]
• Speaking of the First Lady, she's added a full-time makeup artist to her traveling entourage, just in case you happen to be keeping tabs on the White House payroll. [NYP]More

• Karl Lagerfeld on the recession: "Bling is over. Red carpety covered with rhinestones is out. I call it 'the new modesty.' " Of course, said recession isn't affecting Karl personally, who says he has "no budget" and that "throwing money out the window brings money back in through the front door." [NYT]
• Saks is laying off 9% of its workforce. [WWD]
• A clip from The September Issue, the new Vogue documentary, is online. [Fashionista]
• Roberto Cavalli is selling a stake in his company. [FWD]
• The Forever 21 that turned into a Century 21 is a Forever 21 again. [Racked]
• Designers are scrambling to dress inauguration-goers, not that most residents of Washington seem to be terribly interested. [NYT]

• Valentino didn't lose money in a giant Ponzi scheme. He did, however, just lose $39 million to the government of Italy. [NYM]
• Neiman Marcus is laying off 375 staffers. [WWD]
• That giant Forever 21 in Times Square? It's actually going to be a Century 21. [Reuters]
• Disney and Sephora have lots in common. [NYT]
• Liz Claiborne is expected to report big losses for the fourth quarter. Isaac to the rescue! [WSJ]
• Alas, no bar is planned for Topshop. [Racked]
• Annie Leibovitz was spotted at the Hay-Adams in DC yesterday, suggesting Michelle Obama could be on the cover of March's Vogue. [Politico, via]

♦ Claudia Schiffer is the new face of Yves Saint Laurent, succeeding Naomi Campbell. [Vogue]
♦ Beyoncé has tapped Thierry Mugler as "creative adviser" for her upcoming world tour. [WWD]
♦ Another giant American Apparel store opens in Soho this weekend. [Racked]
♦ Forever 21 is opening a 90,000-square-foot store in Times Sq. in 2010, God help us all. [WWD]
♦ A map of all the holiday pop-up shops popping up around town. [Racked]
♦ Your sister-in-law doesn't want another cashmere sweater for Christmas. She'll just take the cash, thanks. [WSJ]