Jason Wu's life changed overnight when Michelle Obama wore the 26-year-old designer's one-shoulder organza-embroidered white chiffon gown to the inaugural balls. The crowd at today's show was larger (sorry, folks, no First Lady), and there were more big-time editors in the front row, but Wu didn't change his pretty, polished formula. He said he was inspired by fairy tales, particularly a book of illustrations by Arthur Rackham that he had as a child. His focus, now more than ever, was dresses. A princess gown with sweeping skirts in midnight blue and silver point d'esprit closed the show, and before that came a pair of memorable body-skimming sheaths, the more dramatic in a gray cashmere mini-check with lacy black epaulets, as well as a couple of away-from-the-body flapper numbers, and two cartridge-pleated dresses in chartreuse and violet with jet beading at the hems. Any one of those would please a princess of the Park Avenue variety (assuming such a creature still exists). If there were a shortage of outerwear and other cold-weather-appropriate clothes, save for a striking electric-blue tiered faille opera coat with embroidered sleeves, can you blame him? After all, Wu's just giving the retailers—three times as many as last season have booked appointments—what they want. As a fledgling designer in this kind of economy, that's smart business.