If the blogosphere held a fashion show (Coco Chanel's rolling in her grave at the thought), FBNY wouldn't win. We wear ripped hooded sweatshirts, ill-fitting blazers and (gasp) khakis. However, when someone says "We're going to a little party with our friend Marc Jacobs after this," we're appropriately impressed. Last night, the crowd gathered at Mr. Chow for a dinner celebrating the fifth anniversary of Fashion Week staple The Daily uttered phrases such as this constantly. (Our personal favorite: "Sometimes there's nothing like old Dolces.")

After the requisite cocktail hour, we sat down for dinner across from two members of The Daily sales team, Louis Sarmiento and Bridget Coolick. We were briefly seated next to Catherine Malandrino until someone thought better and moved her to the table with the important people: Daily EIC Brandusa Niro (and her lawyer, Steve), Niro's "first hire," Jim Shi, and assorted other editors and fashion folk. The WSJ's Shelly Branch and Beverly Smith, who's offering a "Harlem girl's perspective" on the ridiculousness of Fashion Week for papermag.com, took the place of Ms. Malandrino and her assistant. We were glad; the pair was much more fun.

After the jump, we hit the after party at Saks, brush against Matthew Perry's peacoat and attempt to resolve the deathmatch that is Lipstick Jungle vs. Cashmere Mafia.

The eighth floor of Saks Fifth Ave. houses women's shoes. It was also the location of the party celebrating the premiere of Lipstick Jungle and The Daily's anni. The room was filled with beautiful, skinny kids clinging to champagne flutes, colored martinis and a DJ set by the Misshapes. And shoes. God, so many shoes. People were even trying them on. We did not.

Matthew Perry wandered around aimlessly, Brooke Shields looked stunning and Kim Raver spoke to people, although not to us. Ben Silverman also mingled. Then he disappeared, presumably to continue taking over the TV universe.

As for the Lipstick—Cashmere debate, we're backing the former until NBC's show mentions us as well.