The party's over for Fashion's Night Out

The party's over for Fashion's Night Out.

The annual shopping event has been part of New York Fashion Week each September since 2009, when it was created in response to the recession. It was masterminded by Vogue's Anna Wintour and championed by Mayor Michael Bloomberg and the Council of Fashion Designers of America.

The event expanded to 500 U.S. cities and 30 cities globally. Celebrities mingled with shoppers, champagne was served and designers sang karaoke and played pingpong to drum up business for the important fall retail season.

CFDA CEO Steven Kolb said Wednesday that he was proud of what had been accomplished. However, there was grumbling from some stores and designers that it cost money they weren't sure they saw back in sales.

Fashion's Night Out will still be held in select international cities.

Last fall, some of the hottest trends to come out of the 2012 Fashion's Night Out included leather and winter white.