>> Olivier Theyskens Finally Returning to Design —It's been over a year since Olivier Theyskens has had a design outlet — he left Nina Ricci in March 2009 — but he's finally back. Theyskens will design a capsule collection for contemporary brand Theory, to be shown during the upcoming Spring 2011 season. Further details are currently unavailable. [WWD]

Christophe Lemaire, the man behind the commercial resurgence of Lacoste, is headed to Hermes. It was announced today that Lemarie will be replacing Jean-Paul Gaultier, who has been at Hermes for seven years and is reportedly leaving to focus on his namesake lines. Gaultier will stay on at Hermes until the Spring 2011 runway show in Paris this October, and Hermes will continue to own a 45% stake in Gaultier's fashion house.

News of Gaultier's departure comes two weeks after the death of Jean-Louis Dumas, former president and chief executive of Hermes, who hired Gaultier in 2003 to jump-start the the company's ready-to-wear business. “Hermes is deeply grateful to Jean-Paul Gaultier for his outstanding creative contribution,” the company said today in a statement.

Christophe Lemaire, who will show his first Hermes collection for the Fall 2011 season, launched his own brand in 1991 and has worked in the houses of Christian Lacroix, Jean Patou, Yves Saint Laurent, and Thierry Mugler.

Source: Getty

>> Giles Deacon Thinks Carine Roitfeld's "Tarty with Elegance" Style Sums Up His Ungaro Vision —Just yesterday, Giles Deacon was announced as Emanuel Ungaro's creative director, and today, he's already prosyletizing the brand, with his sights set on converting a certain Vogue Paris editor: "Carine Roitfeld has a very Ungaro feel about the way she dresses: the tailored jacket, the pencil skirt. It’s kind of tarty with intelligence. I see them as really empowering clothes, and lots of women like playing with the psychology of all that. It’s an interesting game." [Style File]

>> Corroborating rumors that first popped up last August, Hermes announced today that Jean Paul Gaultier is leaving his post as creative director of the brand.

"After seven fruitful years of creative partnership, Hermès and Jean-Paul Gaultier artistic director of women’s ready-to-wear, have decided to bring to an end their collaboration allowing Jean-Paul Gaultier to concentrate on his own projects," read the release. "The spring-summer 2011 collection to be revealed in October 2010 will be the last collection created by Jean-Paul Gaultier for Hermès. Hermès is deeply grateful to Jean-Paul Gaultier for his outstanding creative contribution during these seven years.”

Who's replacing Gaultier? »

>> Last week, when Tyra Banks announced she was returning to IMG Models, questions rose about whether she would be returning to runways (she retired in 2005) — but it sounds like she's more interested in becoming a spokeswoman, lending her name and image to other brands, than anything else.

In a statement released, she noted: "The last time I was with IMG, I was set on taking on the modeling world in the high fashion and commercial sectors. Now I’m dreaming even bigger, but this time for my company as well. Aligning myself with brands that I believe in, and helping them achieve the kind of success they’re looking for, helps all of us as we grow our businesses."

And Ivan Bart, SVP of IMG Models, added: "IMG will help expand her relationships with companies through endorsements, and will assist her in developing business relationships with sponsors whose missions she feels strongly about."

More details about the America's Next Top Model-Vogue Italia partnership »

Before there was Marc Jacobs taking it all off for Bang, Yves Saint Laurent was posing naked for his own men's fragrance campaign. A nude photograph of the late designer will be up for auction at Christie's in Paris next month as part of a sale featuring 60 photographs by Jeanloup Sieff. The photo of Saint Laurent (at left) was used for Pour Homme, the first YSL men's fragrance advertising campaign in 1971.

Pierre Bergé, Saint Laurent's business partner, in 1997 said of the image: "It was just provocation on the part of Yves Saint Laurent. The picture didn't specifically target the gay population, even though it  resonated strongly among them. In any case the photo was hardly published at the time. Just barely in the French press. It was only much later on that it became an almost mythical icon."

Peter Pilotto has collaborated with backpack brand Kipling on a series of galaxy printed packs. Anouk Lepère models in the advertising campaign.

CFDA Awards update: Sarah Jessica Parker will honor the late Alexander McQueen with the CFDA Board of Directors’ Special Tribute Award, and Caroline Kennedy will present Vogue fashion director Tonne Goodman with the Eleanor Lambert Award.

Marc Jacobs reveals he once considered getting rid of the Louis Vuitton monogram but now accepts it is the secret of the brand's success.

Maison Martin Margiela “20”: The Exhibition opens June 3 and runs through Sept. 5 at Somerset House in London.