>> As this year's Cannes Film Festival wound down Friday, fashion fixtures were still going strong that afternoon — Carine Roitfeld pulled out her favorite floppy hat and pair of flats for the Amend Charity Luncheon at Hotel du Cap, Stefano Gabbana hosted Claudia Schiffer and Eva Herzigova on his yacht, and then they all convened that night for Dolce & Gabbana's annual "Fabulous in Cannes" bash at Le Baoli.

The party's guest list was reduced significantly from previous years, and the VIP room completely abolished, but sunglasses were handed out to guests because, Gabbana explained, “All the movie stars wore sunglasses in the Fifties, and at the end of the night when you’re drunk, it’s always better to have a pair.”

Carine, her son Vladimir Restoin-Roitfeld, Anna Dello Russo, Vogue Russia's editor Aliona Doletskaya, Eva, Claudia and a smattering of British it girls all hit the mirrored dance floor, while Natasha Poly reflected on her festival experience: "I'm having so much fun here in Cannes, I already forgot about the stresses of the campaign season. That felt like ages ago."

Host Domenico, too, was elated: "This has truly become our favorite little party of the year.  We come here and spend time on Stefano's yacht, see friends, and really leave happy and relaxed."  Unfortunately the relaxation didn't last long — as of Monday, the duo could be liable for more than a billion dollars in unpaid taxes, an Italian police spokeswoman confirmed.

The designers have already released a statement denying any wrongdoing — “It’s a paradox! Since when does one have to pay taxes on money one never actually collected? It’s an absurd demand based on a completely abstract calculation. This higher taxable sum . . . is a virtual figure we have never received, the result of a theoretical accounting exercise” — and vow to "strenuously defend ourselves to avoid being unjustly forced to pay for something that never existed in the first place.”

>> Lily Cole's first film on the major stage, Terry Gilliam's The Imaginarium of Doctor Parnassus, which also happens to have been Heath Ledger's last film due to his untimely death, premiered today at the Cannes Film Festival.  So far, the critical reaction has been less than flattering — the Guardian called the film "an awful mess," and Entertainmently Weekly agreed: "The plot's a mess of disconnected episodes, and the circus-y visual style adds to a feeling of . . . quiet desperation."

Some were more hopeful — Variety wrote that Gilliam "made a pretty good thing out of a very bad situation" and the Hollywood Reporter pointed out that "the combined star power involved [Ledger, Johnny Depp, Jude Law, Colin Farrell] will generate a plentiful box office return but the film is not intelligent enough nor silly or grotesque enough to become a lasting favorite."

As for Cole's performance as 16-year-old love interest Valentina, Variety was positive — "Cole nicely hold necessarily caricatured work in check" and the Times UK effulgent: "The revelation is Lily Cole, who is mesmerising as the teenage siren, Valentina. It's her tangos with the various [men] that keep us focused on the romance."

At a press conference this morning, Lily described working with Depp, Law, and Farrell as replacement actors for Ledger as "weird and difficult. You're mourning somebody but at the same time you're immediately going back to work. It's such an unusual environment where you're presented with actors who are playing reminders of that character and that person."

Natasha Poly and Noemie Lenoir joined Lily at the premiere; The film does not yet have a US release date, but is scheduled to open in European theaters this Fall.

>> This evening's amfAR Cinema Against AIDS gala in Cannes promised the appearances of chairs Donatella Versace and Carine Roitfeld, and it more than delivered.  Domenico Dolce and Stefano Gabbana, who are hosting their annual blowout tomorrow night, have officially docked their "mirrored floating disco" yacht, according to T's Stefano Tonchi, and joined in on the fun.  Natasha Poly, who needed the help of two women to get into her Cavalli gown yesterday, reappeared in a leopard dress.  Claudia Schiffer made her first red carpet appearance of the festival.  And Carine Roitfeld made the rounds, stopping to chat with Twilight's Robert Pattinson.

>> The Cannes Film Festival is well underway and with the red carpet fashion such a focus, it's no surprise that some of the industry's finest are out in full form.  Roberto Cavalli, who like last year continues to offer his yacht up to guests and score a number of red carpet moments — including dressing Natasha Poly for today's Inglourious Basterds premiere — was spotted riding around atop a Segway.  Georgina Chapman is also in town, cinching Marchesa dress appearances on the likes of Penelope Cruz yesterday and Diane Kruger today.

Lily Cole, in Cannes for her own upcoming movie premiere, stepped out with boyfriend Enrique Murciano on Monday. "I've been studying the history of art in college," she told FWD. "But the gorgeous beach and sun is what everyone needs with two weeks left in the semester!"  Carine Roitfeld, who will have her big red carpet moment tomorrow at the amfAR benefit, appeared in lacy Balmain at a premiere today with Patrick Demarchelier.

Balenciaga muse Charlotte Gainsbourg debuted a Fall 2009 dress from the label at her Antichrist premiere, Eva Herzigova showed up in a sheer dress for the second year in a row, and Doutzen Kroes also popped up wearing Alaia, of which she tweeted, "So excited he lets me wear his dress!!"