Theyskens' Theory is no longer, but Olivier Theyskens hasn't gone anywhere. Confused? It's a long story, but the gist of it is that Theyskens has been overseeing Theory and his smaller capsule line, TT, since he signed on with the megabrand several years ago, and recently, Theory chief executive officer Andrew Rosen decided that it would be better for the mother ship—not to mention Theyskens himself—to consolidate. The good news is that Rosen was right.

"I've been diving into tailoring and shirting, defining the silhouette," the designer said afterward. "I'm looking for sophistication, but in a measure that speaks to people." Speaking to people—that's key. Theyskens' reference points have swung from outer space to biker shorts in recent seasons, but there was no mistaking what he was trying to achieve today: a faultless three-button coat, a sharp tailored leather jacket, and well-cut pants that will get women running to Theory stores to snap them up. What Theyskens managed to quite efficiently do was prove that he has a firm grip on the polished practicality that is so integral to the Theory brand. But the clothes weren't without their flourishes. A belted suit jacket was rendered utterly out of the ordinary thanks to a little fillip of ruffles on one hip, and he did something similar with skirts, cutting the hems asymmetrically to expose a generous portion of one thigh. Charming details like that will keep the fashion cognoscenti entertained, but again, the truly relevant thing here was his smart tailoring. Take a look at exit 30; we dare you to find a better-looking suit in all of New York.