US Fashion designer Marc Jacobs is setting up shop — again.

Jacobs is reportedly due to open the brand’s second central London store in the 3,000 sq ft site at 56 South Audley Street next month.

His other boutique is in Mount Street in Mayfair.

But even Jacobs, who will be showing his autumn/winter collection at London Fashion Week (which starts next Friday), has been affected by the economic downturn. The designer has reportedly cancelled his traditional Fashion Week after-party.

He has also reduced the number of guests (in case you were wondering where your invite was).