PRIZE PRADA: The Material Girl is the first to get her hands on Prada’s new handbag for the fall-winter season — a custom-made version Madonna was recently spotted carrying to a party Demi Moore threw for her Kabbalah buddies. The one-of-a-kind envelope-shaped shoulder bag is made of python and crocodile skin, featuring jet and Swarovski crystals mounted on a grosgrain base. Miuccia Prada’s signature robot charm and a black leather key chain dangle from the detachable handle. Other versions of the bag, which comes in color combinations like cobalt and violet or burnt orange, are hitting stores now.

LEAPIN’ HIGHER: Hip-hop mogul Damon Dash is getting active. Dash has purchased the license for Pro-Keds brand footwear in partnership with Tom Nasto of Endurance, the New York-based firm which also produces Dash’s athletic line, Team Roc, as well as Rocawear’s big and tall collection. “I’m planning to revamp the line,” Dash said. “But I will bring it back to retro as well as work to establish ourselves as an athletic company.” Dash said he plans to design a limited-edition line of footwear specifically for trendsetters in both athletics and fashion. He also plans to design special-edition shoes to work with the Team Roc and Rocawear lines.

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