Hollywood's leading ladies are ditching high glamour in favour of cut-price couture at this year's Academy Awards, as Tinseltown feels the effects of the global economic crisis.
It's not unaccustomed for top actresses to stroll the Oscars red carpet wearing dresses, shoes and jewellery worth millions of dollars.
But as the world suffers amid a financial meltdown, showbiz's top designers are "toning down" this year's fashion.
Stuart Weitzman - who famously loaned actress Anika Noni Rose a pair of $1 million (£705,000) shoes for the 2007 ceremony - tells the New York Post, "We've all made the decision to tone it down. It's more chic and simple, as opposed to overadorned."
And designer Jean Paul Gaultier's spokeswoman Lisa Lawrence claims the 2009 ceremony will lack the hype of previous, more extravagant events, adding, "There's no excitement. It's just not as buzzed as it normally is. It seems like the economy has everyone in sombre mood."
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