THE SAKS DENOUEMENT: After weeks of reports, Saks Fifth Avenue is expected to let analysts in today on the news that Fred Wilson, chief executive officer of Donna Karan International, will be taking over the helm of the department store from Christina Johnson, who left last month. What’s more, when the official announcement is made —sources said on Tuesday — Donna Karan’s parent company LVMH Moët Hennessy Louis Vuitton is expected also to announce that Wilson’s hand-picked replacement will be Jeffry M. Aronsson, ceo of Marc Jacobs, as has been rumored. While other candidates had been approached last week, Aronsson was said to have received the final approval on Friday.

This story first appeared in the November 17, 2003 issue of WWD. Subscribe Today.

Some insiders are also saying that LVMH will take the opportunity to issue an official denial over recent speculation that it’s considering a sale of either the Donna Karan or Marc Jacobs businesses.

ENGAGED: Robert Downey Jr. announced his engagement to “Gothika” producer Susan Levin Thursday night at the movie’s Los Angeles premiere. The film’s star gave Levin an engagement ring in London on her birthday, Nov. 6, that was designed by his friend and former manager, Loree Rodkin. The delicate band features a tunnel of diamonds and a dark green and purple sapphire in the center. Rodkin said Downey came to her two weeks ago and asked her to design a custom ring. No word yet on whether she will design the pair’s wedding bands, though she has done so for Lauren Holly, Virginia Madsen and Helen Hunt. And no word yet on the date — you see, Downey is still married to first wife Deborah Falconer. But he already has his co-star Halle Berry’s stamp of approval. “Anytime people fall in love and decide to connect, that’s a good thing,” she said.

EYE SPY: Reading restaurant menus is a strenuous exercise in some New York restaurants. When Danny Meyer, Union Square Cafe’s owner, started noticing how patrons squint while looking the menu, he took an unusual step: Rather than opting for a new font, he decided to team up with eyewear firm Morgenthal Frederics. Patrons can now pick from an assortment of fashionable Morgenthal Frederics reading glasses, which, like the menu, have to be returned after orders are taken. But no need to fret: The specs are available at Morgenthal Frederics boutiques for $295.

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