Add a little over 66 years to FDR's "day which will live in infamy," design fans. It has just been announced that Isaac Mizrahi (fashion and homegoods designer, talk show host, Off-Broadway star, style book author, Peter Buchanan-Smith fan, dog owner, and all-around artiste) will be leaving Target at the end of this year to become creative director of the Liz Claiborne women's brand. Before you leave us for Target.com and commence the stockpiling of cardigans, check out some speculative details from today's WWD:

Sources speculate Mizrahi will appear in everything from in-store appearances to runway shows during New York Fashion Week for the line. Like Liz Claiborne Inc. chief creative officer Tim Gunn, who has been promoting the collection this fall with in-store shows, Mizrahi is a familiar face on television. In addition to hosting his own series on both the Oxygen Network and the Style Network, Mizrahi is a regular guest star on other shows, including, interestingly, a recent appearance on Tim Gunn's Guide to Style. In February, he will launch his new Web-based series WatchIsaac at Watchisaac.com.

And what can we expect when Isaac heads to the Land of Liz? According to BusinessWeek, "Mizrahi's first women's collection for Claiborne, to arrive in stores for spring 2009, will appeal to the same customer but will be updated with bold colors and have a better fit, attributes for which the label had once been known."

And so, on this historic day, we raise our glass (Angelo Mangiarotti's Bibulo water goblet, if you must know) to Liz Claiborne CEO William L. McComb and executive vice president Dave McTague, apologize for criticizing their hasty brand sell-off/restructuring scheme of last year, and say, let the Mizrahi/Gunn synergies begin!