Badgley Mischka plans to lower prices of their fall 2009 collection in hopes of selling more product. It’s unclear how much they’ll mark down their wares as they’re still ironing out details. The chairman of Iconix Brand Group, Inc., which owns the label, told The Wall Street Journal, “We realize the world is different … People who are pretending that nothing’s going on are not thinking properly. We have to react and give the consumer great value for great fashion.” Floor-length gowns from the Badgley Mischka Platinum collection cost about $1,000 at Neiman Marcus. But that’s different from the couture line, which would easily run you thousands more. So we’d say there’s some wiggle room.