After deciding not to show this season in order to prepare for her upcoming wedding, Erin Fetherston told People on Thursday that she and her longtime boyfriend Gabe Saporta have actually been engaged since New Year's Eve.

Saporta popped the question with a Lorraine Schwartz ring that Fetherston helped design. The emerald-cut diamond is set on a platinum band that was "oxidized to give the ring a vintage feeling," Fetherston said. "I love it because it's luminous and romantic with the right amount of edge."

The couple hasn't set a date yet, but Fetherston already knows where she's going to get her wedding gown.

"I will definitely design my own dress," she said, "and my fairy-tale aesthetic will undoubtedly influence the look and feel of the wedding."

• In honor of Valentine's Day, Love has released a video of Cara Delevingne being, well, Cara Delevingne. [The Love Magazine]
  

• In other Valentine's Day news, Barneys New York will give everyone who spends $200 or more on cosmetics or fragrance a special "Love Yourself" goodie bag filled with some of the department store's favorite beauty treats. The promotion runs through Feb. 16. [POPSUGAR Fashion News Inbox]
  

• Tom Ford's first catwalk show may be the reason a record number of American editors and buyers are flocking to London for Fashion Week this season. [London Evening Standard]
  

• Stella McCartney's husband, Alasdhair Willis, has been named Hunter's new creative director. [WWD]
  

• Moda Operandi is offering the chance to win a private preview of the upcoming Punk: Chaos to Couture exhibit at the Metropolitan Museum of Art. [Moda Operandi]
  

• Maison Kitsuné has teamed up with Oliver Peoples to release a capsule collection of retro sunglasses priced from $430 to $560. [She Finds]
  

• Paralympic champion Oscar Pistorius, who was the face of Thierry Mugler's A*Men fragrance, has been charged with murder after a woman was found shot in his home in Pretoria, South Africa. [The New York Times]
  
  

Some of the most recognizable brands in the print business might soon have new owners if Time Warner moves ahead with discussions to sell off parts of its magazine company — the nation's largest — Time Inc.

According to Fortune — which is itself a Time Inc. title — executives from the company on Wednesday discussed a potential deal with representatives of the Meredith Corporation, the Iowa publisher that owns Ladies' Home Journal, Parents, and More, among other titles. While the talks are still in their infancy, a tentative sales plan would see Time Warner holding onto its three oldest titles (Time, Sports Illustrated, and Fortune), while letting go of InStyle, People, Real Simple, and the rest of its stable of glossies.

A spokesperson for Meredith told WWD, "It is our policy not to comment on marketplace rumors or speculation." How much the transaction is worth and whether it will actually go through remain to be seen.

Rumors of Time Warner selling off some of its magazines have surfaced before, but these seem especially credible in light of Time Inc.'s recent performance. Last month, in response to a decline in sales, subscription revenue, and advertising revenue in 2012, Time Inc. announced that it had plans to lay off six percent of its work force both domestically and internationally. As Time Warner continues to get smaller — the company sold off both Time Warner Cable and AOL in 2009 — selling off under-performing units might be seen as an attempt to insulate itself from trouble in the print industry.

Photo courtesy of InStyle.

Alexander Wang's first show for Balenciaga won't be a full-scale runway spectacle. Instead, the designer's debut at the house will take the form of an "intimate" and "salon-style format," a spokesperson for the brand told Vogue UK.

That means the show will have fewer attendees than Balenciaga's last few outings, which have been staged at the Crillon Hotel in Paris or at its offices on the Rue Cassette. The show is scheduled for 9:15 on the morning of Thursday, Feb. 28. Other details, like what the clothes will look like or who is — or isn't — invited, are being closely guarded.

A smaller, more intimate affair in some ways echoes Tom Ford's return to designing women's ready-to-wear for Spring 2011. But instead of wanting to preserve a sense of mystery about the clothing, the brand's spokesperson said it decided to scale back because this is Wang's "introductory season." The American designer took over for Nicolas Ghesquière, who'd been Balenciaga's creative director for 15 years, last November.