The music is Billie Holiday singing I'm A Fool To Want You.
Update: today is Chanel No. 5 Day in New York City; more after the jump...
From the press release:
May 5, 2009 has been designated by the city of New York as CHANEL N˚5 Day in celebration of the iconic fragrance and the unveiling of its latest campaign featuring acclaimed actress Audrey Tautou. CHANEL and Saks Fifth Avenue have partnered for this significant occasion during which a portion of Fifth Avenue is being renamed AVENUE N˚5 for the week of May 2 through May 10.
[...] As a thank you to the city of New York for its support in making CHANEL N˚5 Day possible, CHANEL and Saks will partner to create a new arts program at P.S. 5, the Ellen Lurie Elementary School. The donation will provide funding for the arts program, specifically four separate after-school arts classes—graphic arts, photography, chess and drama—as well supplies and field trips to a local museum or cultural institution for each class. Participating children will benefit from the after school program, which they will be able to attend for an hour and a half four times a week.
[...] From May 2 through May 10, Saks Fifth Avenue’s New York flagship will pay homage to the legendary scent by dedicating an extraordinary visual presence on the exterior and interior of the store. The 17 windows along AVENUE N˚5 will display a thematic journey into the world of CHANEL N˚5 inspired by the Train de Nuit film as well as selections from the current CHANEL Ready-to-Wear collection. The fragrance will be prominently displayed on the main floor and in outposts throughout the store. A full cinematic presentation of Train de Nuit will take place on the main floor.
Another Update: Here is the longer version: