It's been relatively quiet for fashion events lately. As a sign of the times, more and more companies seem to be forgoing big, fancy parties for small fashion shows for the press that can be done in-house and on the cheap. Yesterday afternoon alone saw Chanel, Celine and beach flip-flop maker Havaianas host press previews for spring/summer collections in office showrooms, empty venues and post-lunchtime restaurants. Last week, Fendi presented a press show using the Sin Sin Gallery in Sheung Wan, while Shanghai Tang splurged a bit more to use Pacific Place's Domani restaurant. An event publicist admitted to CitySeen that they were as busy as ever, but labels were cutting back to smaller media events rather than the usual unlimited-budget blowouts of past years. Frankly, it makes perfect sense. The fashion houses still get the same coverage for less money. So who loses in the belt-tightening? The sycophant partying crowd who might just have to pay for their own drinks from now on.