Jason Wu s life changed overnight when Michelle Obama wore the 26-year-old designer s one-shoulder organza-embroidered white chiffon gown to the inaugural balls. The crowd at today s show was larger (sorry, folks, no First Lady), and there were more big-time editors in the front row, but Wu didn t change his pretty, polished formula. He said he was inspired by fairy tales, particularly a book of illustrations by Arthur Rackham that he had as a child. His focus, now more than ever, was dresses. A princess gown with sweeping skirts in midnight blue and silver point d esprit closed the show, and before that came a pair of memorable body-skimming sheaths, the more dramatic in a gray cashmere mini-check with lacy black epaulets, as well as a couple of away-from-the-body flapper numbers, and two cartridge-pleated dresses in chartreuse and violet with jet beading at the hems. Any one of those would please a princess of the Park Avenue variety (assuming such a creature still exists). If there were a shortage of outerwear and other cold-weather-appropriate clothes, save for a striking electric-blue tiered faille opera coat with embroidered sleeves, can you blame him? After all, Wu s just giving the retailers—three times as many as last season have booked appointments—what they want. As a fledgling designer in this kind of economy, that s smart business.