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• The Costume Institute Gala is a mere five days away. Fashion Week Daily has a roundup of who's going, who isn't, and what everyone will not be eating. (Chicken, in case you were wondering.) [FWD]
• The Observer on Alexandra Kotur, the "Viscountess of Vogue." [NYO]
• It seems some women are so addicted to the discount designer site Gilt Groupe that they're practically going bankrupt buying stuff they really don't want or need. [TDB]
• It's official: Madonna is attached to Louis Vuitton's new ad campaign. [Grazia]
Isaac Mizrahi rang the closing bell at the New York Stock Exchange yesterday. The market has been having a surprisingly solid week so far. Could the two be connected? We'll say yes, if it's okay with you. [Facebook, WWD]

• Want a sneak peek at Christian Siriano's Payless line? On you go. [Racked]
• MTV is hoping for ratings gold with Alexa Chung's new "culture show." [AP]
• Jones Apparel, which controls Nine West, Anne Klein, and Jones New York, is cutting staff and planning to close 225 stores. [Crain's]
Ron Perelman-controlled Revlon has named a new CEO. [AP]
• Forever 21 has opened its first store in Tokyo, just so you know. [WWD]
• Bad makeup is making a comeback, you'll be horrified to hear. [Guardian]
• The Hogan store on Spring Street is closing in June. [Racked]
Vera Wang was kind enough to design a Swarovski crystal-encrusted BlackBerry smartphone for Evelyn Lauder's breast cancer foundation. [WWD]
Heidi Klum's secret to staying comfy while pregnant? Balenciaga jeans. [SW]