• The most genetically blessed child in the world has arrived. Supermodel Gisele Bundchen and husband Tom Brady are the parents of a bouncing baby boy, although they haven't divulged his name yet. [People]
• He's been selling off his homes left and right to pay off the millions he owes in back taxes. Now Nic Cage is…
• Polo Ralph Lauren has been hit with a lawsuit for stamping the word "lifeguard" on clothing without permission. Another company is claiming it trademarked the word years ago. [NYP]
• As expected, Escada filed for bankruptcy protection in a German court today. [Bloomberg]
• Is Bravo renewing The Fashion Show for a…
• Forbes's annual list of the highest-paid models is online and poor Gisele Bundchen has taken a blow: She's only made $25 million over the past year, down from $35 million the year before. Heidi Klum and Kate Moss were both up for the year, however, so it isn't all bad news, thank goodness. [Forbes]
• Speaking of…
♦ The Marc Jacobs bribery scandal has finally been resolved. Earlier this year, it was alleged that an employee of the Armory was paid off so that Jacobs' company could secure the venue for runway shows. Now the company has paid $1 million to settle the matter. In happier news, Jacobs says he's eager to make an…
Our final except from "Deluxe," Newsweek culture and fashion writer Dana Thomas' look at how the luxury market went mass market, finds Thomas on a visit to the headquarters of Prada, where she interviews a reluctant Miuccia Prada. "Deluxe," published by The Penguin Press, arrives August 16th.
