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Friday September 30, 2011 12:12 pm

Xcel Brands Inc. picked up Isaac Mizrahi’s licensing business for a cool $31.5 million. Word is the designer’s high-end line, which he showed by appointment this season, will be phased out and relaunched as part of the licensing business. Cha-ching! [WWD]

Cheeky French brand Sonia Rykiel has named a new creative director. April Crichton, Rykiel’s second-in-command and an instrumental force behind the label’s diffusion line, will take on full responsibilities starting next season. [Vogue.co.uk]

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