>> Early Fall 2010 Campaign Buzz: Calvin Klein, Michael Kors to Switch It Up? —It's early on in the Fall 2010 campaign game, but a couple of interesting tidbits have already come to light.  It sounds like Monika "Jac" Jagaciak's campaign exclusive with Calvin Klein Collection — which produced their Fall 2009 and Spring 2010 campaigns — is no longer, so she may not only not be the CK face for Fall 2010, she might also pop up elsewhere. Meanwhile, Carmen Kass, who has appeared in every major Michael Kors campaign since Spring 2006 (with the exception of Fall 2007, which went to Tanya Dziahileva), didn't walk the Fall 2010 Kors catwalk, and now it sounds like there's a chance she won't be in the Kors campaign this season, either. [TFS, TFS]

>> Versace Currently on Track For Profitability by 2011—Two months ago, Versace announced it was eliminating 26 percent of its workforce in an effort to regain profitability by 2011. Now, company CEO Gian Giacomo Ferraris says the brand is on track with its goal — boutique sales are up 10 percent since January, the Fall 2010 collection is nearly entirely pre-sold to wholesalers, and revenue is now about 10 percent of Gucci and slightly higher than Yves Saint Laurent.  And although it's been suggested that majority holder Allegra Beck Versace might sell her stake in the company, Ferraris says not so: "With this plan, there is no urgency (for any family members to sell). This plan will guarantee the cashflow to run the business without any interference." [Reuters]

>> While the new W editor-in-chief could be announced as early as today and Stefano Tonchi seems to be the man for the job, the New York Post reports that former W fashion director (and current Elle creative director) Joe Zee is "in a neck and neck race" with Tonchi. Meanwhile, Fashion Week Daily has a full list of potentials for the job — Tonchi, Zee, Carine Roitfeld, Kate Betts, Katie Grand.

But what about the rest of the W staff? The Daily reports that the departure of W editor and editorial director Patrick McCarthy came as a shock, and so far, there has not been a formal staff meeting about all the changes.  The Daily's sources are convinced that creative director Dennis Freedman, design director Edward Leida, and fashion director Alex White will all leave the magazine — and possibly deputy editor Julie Belcove, who is said to be "a wreck," as well.

Meanwhile, The Daily is surmising that W senior contributing fashion editor could stay on as fashion director, and Tonchi's close friend Anne Slowey, Elle's fashion news director, is a top contender for executive editor at W (or perhaps Tonchi's position at T).

>> Isabel Toledo to Collaborate With Payless —J.Crew's creative director Jenna Lyons may have railed on designer-mass-market collaborations in an interview published today, but Isabel Toledo doesn't feel the same. The designer has signed on to design a handbag and shoe collection for Payless, hitting stores and online in September.  The line, featuring flats, square heels, and wellies in materials like patent leather, nylon, rubber, and mesh, will retail for under $40. “It’s really a collection for women from all walks of life, literally," Toledo said. "And it’s been interesting as I’ve had to have a different design hat on." [WWD]

Karen Elson — the 31-year-old model, wife of Jack White, vintage store owner, mother of two, and Upright Citizens Brigade performer — most recently added solo music artist to her growing resume. Elson has finished her first album (called The Ghost Who Walks and produced by her husband), and tonight she will perform a preview of songs at New York's Le Poisson Rouge.

The Nashville-based Elson says her music is highly influenced by Hank Williams and Patsy Cline. "There are also a lot of murder ballads on there, which is quite morbid," she told WWD. "The last song on my record is called “Mouths to Feed,” which was inspired by the Great Depression and Dust Bowl, about a woman who’s a farmer, who’s been working her hands to the bone and all she has left is dust."

In response to those questioning the model's legitimacy as a singer/songwriter, she says: "I was unbearably concerned and insecure about that, and that’s what has taken me so long to put a record out. Model-slash-anything is just such a [stigma], which is a shame because I know so many ridiculously talented models. It’s just the connotation of the word ‘model.’ If you said waitress-slash-singer or secretary-slash-singer, it’s all fine."

Karen Elson's The Ghost Who Walks will be released in May.

Source: Getty

>> Jenna Lyons Wants a J.Crew-Louboutin Collaboration—J.Crew carries selected items from other brands — Ray-Ban, Barbour, Belstaff — in its stores, but currently, it's collaborations that are on J.Crew creative director Jenna Lyons's mind: "What we’d really like to do, especially for women’s, is a shoe collaboration where we maybe go to someone like Manolo Blahnik or Christian Louboutin. Gap did a great job doing that with Pierre Hardy, I thought. Women’s is just harder. Would I love to sell Chanel bags? Sure. Would they let us? No." [Style File]

The Spring 2010 installment of i-D magazine features three covers — Sasha Pivovarova and Freja Beha Erichsen photographed by Emma Summerton and Natalia Vodianova shot by Paolo Roversi. Themed "Home Is Where the Heart Is," the new issue profiles models Maria Carla Boscono, Isabeli Fontana, Alla Kostromicheva, and Abbey Lee Kershaw; follows Dree Hemingway as she travels to her great-grandfather's house in Cuba; and shows Spring Lanvin on Natalia Vodianova. The Spring issue hits newsstands on March 25.

In other i-D news, Nick Knight's 100 Portraits will be featured in the 30th anniversary Fall issue on sale Aug. 12.

>> Stefano Tonchi seems to have emerged as the frontrunner for the W editor-in-chief position — one "highly placed source" at The New York Times confirmed to WWD that Tonchi had been speaking with Conde Nast, but had not made a decision regarding the W job as of Friday. Over at Conde Nast, several sources told WWD that Tonchi had already signed a deal, but the official word from a Conde spokeswoman is that a decision had not yet been made, although there “will be an announcement possibly early next [this] week.”

Meanwhile, over the weekend, Bryanboy noticed that Andre Leon Talley was moved from editor-at-large to contributing editor on the April 2010 Vogue masthead. The move could have to do with his new position as America's Next Top Model judge, and Fashionista noted that during New York Fashion Week, ALT kept a distance "from the rest of the Vogue team–we didn’t spot him with the rest of the editorial staff even once, and on the last day of the week he attended one Ralph Lauren show while the rest of the Vogue-ettes attended another . . . His pages, however, three on general goings on about town or it-girls of the moment, remain the same." Racked cites sources saying that Grace Coddington and Hamish Bowles, too, may be "experiencing changes" in upcoming months.

UPDATE: A Vogue spokesman notes of the change: "There’s no more to the story than a title change," adding, "That’s just because he wanted to do more freelance projects . . . He’ll be just as big a presence at Vogue." Talley's column and blog are expected to remain intact. [The Cut]