First fashionistas-in-training

First Lady Michelle Obama has been praised for her chic sense of style, and now her daughters are receiving similar acclaim. First Daughters Sasha (wearing Chris Benz) and Malia Obama (in Gregory Parkinson) garnered particular attention for choosing colorful, full short skirts to celebrate their father's reelection. Meanwhile, HMX, the parent company of President Obama's go-to suit label Hart Schaffner Marx, filed for bankruptcy just a month before the election. By the end of the year, Authentic Brands Group -- the company that owns the licensing rights to Marilyn Monroe's likeness -- had snapped it up for a reported $72.3 million. (October, November, December)

( Chris Carlson / AP / November 7, 2012 )

First Lady Michelle Obama has been praised for her chic sense of style, and now her daughters are receiving similar acclaim. First Daughters Sasha (wearing Chris Benz) and Malia Obama (in Gregory Parkinson) garnered particular attention for choosing colorful, full short skirts to celebrate their father's reelection. Meanwhile, HMX, the parent company of President Obama's go-to suit label Hart Schaffner Marx, filed for bankruptcy just a month before the election. By the end of the year, Authentic Brands Group -- the company that owns the licensing rights to Marilyn Monroe's likeness -- had snapped it up for a reported $72.3 million. (October, November, December)

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