In line of keeping up with the Joneses, Todd Oldham of Old Navy has decided to do an entire revamp of the store, focusing on making designer inspired fabulous fashion pieces at discount prices. As one fashion blogger notes:

"(I was) pleasantly surprised when I saw the new Old Navy commercial (shown below). It features fair-isle sweaters in stylish cuts that may even be cuter than the $200 Charlotte Ronson sweaters I've noticed on shopbop" [Dress.]

You can't overlook the choice of models in the video either, some great picks. The launch party for the "New Old Navy" was held last night at the Eyebeam Atelier on 21st Street, and the store's PR people did a fabulous job of making sure all the popular 20-somethings were there including Gossip Girl's Blake Lively and Chace Crawford, Hayden Panettiere, Sophie Bush and Kristen Bell. What I am left wondering is why the fuck Richie Rich (of Heatherette fame) was there with Traver Rains? Um, one of these things is not like the other? Richie is about as far away as it gets from being a 20 year old girly diva. Or maybe he fit right in?

[Richie Rich Rocks Our World]