Jason Wu (New York)

If the world's hopes are now pinned on Barack Obama to save the United States, the ailing American fashion industry is looking to Michelle Obama as its own rescuer. First, there was the controversial red-and-black Narciso Rodriguez bondage dress she wore on election night. Then, the surprise choices of Isabel Toledo and Jason Wu looks for inauguration day, launching the highly-respected but little-known Toledo and the young, Taiwan-born upstart into the league of household names. But who is Jason Wu?

Oddly enough, the 26-year-old Parsons alum started out designing doll dresses as a teenager, then interned for Rodriguez before launching his own line for Fall 2006. Starting out with eveningwear for the uptown set, he's gradually branched out into pleated trousers, prim sweaters, and even satin shorts suitable for the workday, and garnered the Fashion Group International's Rising Star award on the way.