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Designer Donna Karan was in town the other night for a show of her fall collection. The event at the Innovation and Design Building was cohosted by Saks Fifth Avenue and Boston Common magazine. Not coincidentally, Karan is on the cover of the new issue of the magazine, and is opening a boutique at Saks Fifth Avenue in the Back Bay, not far from where DKNY was doing business on Newbury Street before closing earlier this year.