Prada is releasing a "Print Collection" of ballet flats and chain strap handbags next month, inspired by a collection of archive fabrics.

"She was the first person to wear it and she wore it perfectly. She wore it just as I imagined it."—Erdem Moralioglu on dressing Keira Knightley in his fall 2010 collection.

The Couture Council of The Museum at F.I.T will be honoring Karl Lagerfeld with a special Fashion Visionary Award on Sept. 10, which means he'll be in New York for Fashion's Night Out.

Ultrasuede: In Search of Halston will premier at the Tribeca Film Festival tonight.

Bono is rumored to be the next face of Louis Vuitton's core values campaign, photographed by Annie Leibovitz.

Mercedes-Benz Fashion Week is getting a new look and some additional features this September. Yesterday, IMG Fashion (minus Fern Mallis who resigned Wednesday after nine years as global ambassador to start her own consulting firm) announced plans for the new and improved New York Fashion Week at Lincoln Center.

Say goodbye to Bryant Park's Tent, Salon, and Promenade; the spring 2011 collections will be shown in one of five new venues: The Theatre (with all black interior, it can seat 969 people), The Stage (slightly smaller, decorated in white and gray), The Studio (the smallest runway space), The Box (a presentation room), and The Courtyard (a glass-encased outdoor space for events and presentations).

Lincoln Center, with the help of director of fashion Stephanie Winston Wolkoff, promises to offer designers more options for runway configuration, lighting, and stage sets this season and is partnering with Fashion GPS to manage guest lists and RSVPs. A brand new website with designer and press contact information is also part of the plan.

Above: A rendering of Mercedes-Benz Fashion Week at Lincoln Center

Designers are starting to confirm their dates for Monday night's Costume Institute gala at the Metropolitan Museum of Art, while other attendees are sharing who they will be wearing.

In attendee news, January Jones will accompany Stefano Pilati; Michael Kors will bring along Brooke Shields, Diane Lane, Carolyn Murphy, Natasha Poly, and Chanel Iman as his dates; Ralph and Ricky Lauren will have Taylor Swift, Jessica Biel, and Justin Timberlake at their table; and Lady Gaga will be the guest of Prada.

As for all the questions about how event sponsor Gap will fare on the red carpet, host Patrick Robinson has enlisted CFDA/Vogue Fashion Fund designers Sophie Theallet, Thakoon, Alexander Wang, and Rodarte to design gowns in collaboration with the retailer. M.I.A. and Zoë Kravitz will arrive in Alexander Wang for Gap, Kirsten Dunst and Jamie Bochert will be in Rodarte for Gap, Kerry Washington and Riley Keough will wear Thakoon's designs for Gap, and Jessica Alba and Vera Farmiga will wear Sophie Theallet for Gap. Anna Wintour will personally approve each design, and the day after the event, all dresses will be auctioned off with proceeds donated to the Costume Institute.

Melania Trump has announced she will wear Christian Siriano Monday evening, and we look forward to seeing Mrs. Trump in what she calls a "fierce, young, glamorous, elegant, sexy, big, and beautiful" dress.

Source: Getty

The landing page of HediSlimane.com has been altered to memorialize model Ambrose Olson, who passed away last week apparently by hanging. Hedi's site features a video of Olson shot for VMan by Slimane for the first issue of the magazine in July of 2003. A moving tribute.

To see the video, read more

Effective tomorrow, Fern Mallis will be stepping down as global ambassador for IMG. She's also renouncing her role as the official face of Mercedes-Benz Fashion Week. Why the change? Fern is leaving to start her own firm titled Fern Mallis LLC. Don't expect to see Fern too far from the tents come Fall, IMG Fashion is Fern's first client. Mallis told WWD, "It's something I have been thinking about for a while. It seems like there is a lot [of] opportunity. When we were planning the move to Lincoln Center, it felt like closure, like the end of the cycle. It's time for a new adventure."

Marc Jacobs and Liya Kebede are two of the Top 100 most influential people according to Time.

André Leon Talley to be Master of Ceremonies at a NYC Manolo Blahnik sale.

A week with Anna Wintour is currently going for $24K, $10K more than yesterday.

Gilt Groupe opened a new sale site: Gilt City. It offers sales to restaurants, salons, and other lifestyle businesses in New York.

Cocaine and other stimulants were found in Alexander McQueen's body at the time of death.

Source: Getty