Jared Leto was there, so was Ke$ha. And the celebs were just part of the story. Erin Wasson can draw a crowd of editors and retailers that would make full-time designers cringe with envy. The attraction? The moonlighting model's fearless sense of personal style, first and foremost, although the show's novel setting—the pillow- and rug-strewn sixth floor of ABC Carpet & Home—and a live performance by the Brooklyn band Yeasayer also served to lure in a high-profile audience. The danger of this approach is that it can set the bar too high for a label that's only in its fourth season, and it's probably not surprising if this time around the payoff didn't live up to the setup.

There were shades of the seventies in a trio of glam-rock ivory fur jackets. Other looks—like the long tank dresses layered over turtlenecks, and slouchy tees paired with drop-crotch thermal leggings—gave you a bit of the nineties grunge vibe that's quickly become an early New York thing. Wasson's got some sense for the way the fashion winds are blowing, but the 22-look lineup was a little too long on T-shirts and corduroy cutoffs, and an ill-fitting jumpsuit should have been edited out. A fully fledged show comes with its own expectations, and Wasson and her team will have to figure out the best way to fill the bigger stage next time.