<PAGE>
                                                                   Exhibit 10.8
                                          
                       REPLACEMENT SHORT TERM REVOLVING NOTE
                                          
                                                           Boston, Massachusetts
                                          
$17,000,000.00                                                 September 4, 1998


     On or before March 31, 1999, the undersigned, DM Management Company, for 
value received, promises to pay to the order of Citizens Bank of 
Massachusetts (hereinafter called the "Bank"), at its principal office at 28 
State Street, Boston, Massachusetts 02109, or such other location that the 
holder may specify

     Seventeen Million DOLLARS ($17,000,000.00) with interest payable as 
hereafter set forth.  This is the "Replacement Short Term Revolving Note" 
issued pursuant to the terms of a certain Third Amendment to Second Amended 
and Restated Loan Agreement dated as of the date hereof by and between Bank 
and the undersigned, as the same may further hereafter be amended or restated 
(the "Loan Agreement"), payment of which is secured by an Assignment of 
Certificate of Deposit as amended by First Amendment to Assignment of 
Certificate of Deposit of even date herewith and otherwise as provided in the 
Loan Agreement.

     Interest shall accrue at the rate provided in the Loan Agreement for the 
Short Term Revolving Loan as defined therein and shall be paid monthly, in 
arrears, during the term hereof commencing one (1) month from the date hereof 
and on the like day of each month thereafter except all accrued but unpaid 
interest shall be due and payable at maturity.  

     Overdue principal and overdue interest from time to time outstanding 
shall bear interest in accordance with the terms of the Loan Agreement.  If 
payment is not made when due hereunder then, without limitation on any other 
right of the Holder, there shall be a late charge as provided in the Loan 
Agreement.

     If an "Event of Default" (as defined in the Loan Agreement) shall occur, 
the entire unpaid principal balance of this note and all accrued and unpaid 
interest may become or be declared due and payable without notice or demand, 
in the manner and with the effect provided in the Loan Agreement.

     If a "Special Event" (as defined in the Loan Agreement) shall occur, the 
entire unpaid principal balance of this note and all accrued and unpaid 
interest shall be due and payable on December 31, 1998 without notice or 
demand.

     Every maker, endorser and guarantor of this note, or the obligation 
represented by this note, waives presentment, demand, notice, protest, and 
all other demands or notices in connection with the delivery, acceptance, 
endorsement, performance, default, or enforcement of this note, assents to 
any and all extensions or 

<PAGE>


postponements of the time of payment or any other indulgence, to any 
substitution, exchange, or release of collateral, and/or to the addition or 
release of any other party or person primarily or secondarily liable, and 
generally waives all suretyship defenses and defenses in the nature thereof.

     The undersigned will pay all reasonable out-of-pocket costs and expenses 
of collection, including reasonable attorneys' fees, incurred or paid by the 
holder in enforcing this note or the obligations hereby evidenced, to the 
extent permitted by law.

     No delay or omission of the holder in exercising any right of remedy 
hereunder shall constitute a waiver of any such right or remedy.

     The holder need not enter payments of principal or interest upon this 
note, but may maintain a record thereof on a separate ledger maintained by 
the holder.

     The word "holder" as used in this note shall mean the payee or indorsee 
of this note who is in possession of it or the bearer if this note is at the 
time payable to bearer.

     This note shall be governed by and construed in accordance with the laws 
of the Commonwealth of Massachusetts and shall take effect as an instrument 
under seal.

WITNESS:                                DM MANAGEMENT COMPANY


                                        By: /s/ Olga L. Conley
                                            ------------------------------
                                            Olga L. Conley
                                            Chief Financial Officer