Fashion Roundup: Barack Obama’s Favorite Clothing Store; New Chanel Bag!; Marc Jacobs Wants to Tie the Knot

Chicago-based Hart Schaffner Marx, the suit retailer favored by Barack Obama, has added this to its homepage:  “Dressing Presidential. Pick Your Power Suit. President-elect Barack Obama Found His at Hart Schaffner Marx.” [WWD

Marc Jacobs would like to marry Lorenzo Martone, if the latter will have him. [The Cut]  

Karl Lagerfeld has released a Chanel bag based on the house’s quilted 2.55 classic released in the ’90s and celebrities like Katie Holmes, Milla Jovovich and Lily Allen are already wearing it. [WWD]

More retail spaces are becoming available downtown. [NYO]

While’s fashion director Candy Pratts Price will not urge you to get a Rolex for $64,000, she thinks everyone should continue shopping. [NYO]