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• Versace CEO Giancarlo di Risio is expected to hand in his resignation tomorrow. He's leaving after reportedly clashing with Donatella Versace "over her lavish lifestyle," not surprisingly. [NYT]
• The second season of The City has started filming inside Elle's offices. [WWD]
• Rosa Cha has launched a line of bathing suits that sell for as much as $3,200 apiece. And you can't even get them wet. But that isn't stopping women from buying them, supposedly. [NYP]
• If that bathing suit sounds appealing, you're probably the sort of person who'd also be interested in buying these $340 Hermès cotton boxer shorts for your husband. [FWD]
• Karl Lagerfeld is hitting the big screen. Or his voice is, at least. He'll be playing a villain in an animated French movie. [Fashionista]

• Yesterday it was retail in the Flatiron district that was feeling the pinch. Today's victim of the recession is Nolita. [The Real Deal]
Marc Ecko's Chelsea boutique Marc Ecko Cut & Sew is now closed. [Racked]
• Details on the recent management changes at Bergdorf Goodman. [NYP]
• The Max Factor makeup brand is being phased out in the U.S. [Stylecaster]