>> Condé Nast Digital isn't going to have Style.com and Vogue.com as friendly competitors, as was envisioned in August, after all. Style.com and its staff of about 15 are moving from under Condé Nast Digital to Fairchild Fashion Group, the publisher of WWD. Gina Sanders, president and CEO of Fairchild, said she proposed the move a few months ago, because with Style.com, Fairchild will be able to “speak to both business executives and consumers obsessed with fashion." Style.com's editorial team, including editor Dirk Standen, will now report to Fairchild editorial director Peter Kaplan. [WWD, WSJ]

>> Over the weekend, LVMH announced that it's agreed to buy a minority stake (17.1 percent for 1.45 billion euros, or $2 billion) in the family-controlled Hermès. The luxury conglomerate stifled any takeover speculation by saying it has “no intention of launching a tender offer, taking control of Hermès nor seeking board representation … The objective of LVMH is to be a long-term shareholder of Hermès and to contribute to the preservation of the family and French attributes which are at the heart of the global success of this iconic brand.”

But, as WWD points out, "few observers expect Arnault — who famously won control of Vuitton and LVMH in the late eighties by pitting family member against family member and ultimately launching a hostile takeover bid — will be content with a silent minority holding." And when Arnault bought a 5 percent stake in Gucci Group in 1999, he said that LVMH didn't intend to acquire any more of the company — but he ended up increasing his holding to 34 percent within a month.

A spokesman for LVMH declined to comment on the seller of the stake. Late Sunday, Hermès issued a statement saying that it was informed of LVMH’s purchase and affirming that its family shareholders “are fully united around a common business vision” and “have confirmed that they are not contemplating any significant selling of shares.”

>> Olivier Theyskens, who began working with Theory in May, is strengthening his ties with the brand; he was just named artistic director and will take over design responsibility for the entire Theory brand.

Theyskens first began working with Theory on a capsule collection under the moniker Theyskens' Theory, which he debuted during New York Fashion Week in September. Now, in addition to designing the Theyskens' Theory label, which is launching for Spring 2011, Theyskens will also be designing Theory, with his first collection for the Fall 2011 season. In his newly-created artistic director role, Theyskens is expected to give Theory a fashion slant while still appealing to the brand's existing customer.

>> Last week, due to a miscommunication (mea culpa), we reported that Gap was not producing the platform boots at left. Turns out that the retailer is, in fact, selling the boots (which are part of Gap's main line, not a Pierre Hardy design for the retailer)  — and the black Pierre Hardy for Gap wedges — in select stores in New York, Chicago, and Houston, starting on Monday, Oct. 25, and in Los Angeles and San Francisco starting on Thursday, Oct. 28, according to a new press release. Both will retail for $195. As for our personal favorites, the platform bootie version of the boots at left, and the other wedge booties (which can both be seen here and are also part of Gap's main line), no set launch date or price point has been released, but they will hit stores — in December.

>> Newcomer Daphne Groeneveld was widely reported by a number of reputable sources to have scored Vogue Paris's November 2010 cover, but it seems that Carine Roitfeld changed her mind. Givenchy has long been a favorite at the magazine, so much so that Natasha Poly, who opened Tisci's Spring 2011 lineup, is back in the show's bleached eyebrows and tightly-braided minipigtails on the Vogue Paris November 2010 cover, as captured by Mario Sorrenti. The shoot went down earlier this month — we wonder if it happened right after the show? [Women Management]