Another Model-Turned-Intern, A Less Splashy Gala

• Coco Rocha may have only been "observing" at Vogue a few weeks ago, but Chanel Iman says she actually spent past of last week interning at Teen Vogue. [Fashionologie, Grazia]
• Is the Costume Institute Gala planning a new approach next year? Some insiders tell the Daily it will be a "much less splashy affair" the next time around, with more benefactors in attendance and fewer models and celebrities. [FWD]
• A couple of weeks ago, it seemed Esteban Cortazar had decided to split with Emanuel Ungaro. Now it looks like he's staying put. For the moment, at least. [WWD, Cut]
• An interview with Stacey Bendet, whose alice + olivia line now rakes in more $50 million a year, she says. [ObsessedTV]

• The summer season already appears to be a bust for retailers: Bergdorf is slashing prices on designer goods by as much as 70 percent. [Crain's]
• Geri Halliwell may be planning to do a line with Topshop. [Mirror]
• Kidswear maker Best & Co. filed for bankruptcy protection last week. [Crains]
• Intermix is rebranding these days; to mark the occasion, the chain is now launching their first-ever ad campaign. [Pipeline]
• US Customs officers seized more than $10 million in counterfeit items last week, including Louis Vuitton handbags and Gucci shoes. If Canal Street looks like a ghost town these days, now you know why. [WWD]