This Afternoon’s Good News/Bad News: Spanx Swimwear, Phi Closes, The Limited Revived, More

While today we found out Phi will be discontinued [WWD], handbag designers Be & De are parting ways [Stylelist] and that Ben Sherman will yank its womenswear line from the market [WWD], there are some bright spots:

1. We’re still reeling from our announcement this morning that Spanx is debuting their very own swimwear line in January. For now, though, Jessica Simpson’s announced her swimwear capsule collection with Red Carter (pictured above) will debut at Macy’s directly after Christmas on 12/30, as reported by Stylelist. Feel free to go  return the hideous nightgown your grandmother gives you and swap it for a cute suit before your next vacation (they will range from $40-50 per piece).

Going on vacation? Check out our celebrity swimsuits guide. Not ready for that yet? Browse our shapewear guides for something to wear under your party dress this holiday.

2. On the heels of Target’s latest collaboration, with Rodarte, Jodi Arnold, the designer of MINT, has signed on to do a collection with The Limited debuting March 8, 2010. Finally The Limited will be able to compete with the designer collaboration powerhouses, Target and H&M. The Limited used to be cool back in the ’90s and hit a bit of a slump, not unlike Ann Taylor, which was recently revived. If these photos above are any indication of the rest of the line, it looks like we’ll be high-tailing it to The Limited for some cool work (and after work) basics soon enough.

For more on what to wear to work, see our guides to the cardigans, best pencil skirts, tights, and booties.