• 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]

• Jack McCollough's orange Oakleys couldn't cover up the scratch left behind by Kiefer Sutherland's headbutt the other night, although thankfully the Proenza Schouler co-founder wasn't seriously injuried in the incident. McCollough's rep said today he was the victim of a "vicious, violent, unprovoked assault." And the NYPD seems to agree. Sutherland is expected to be charged with assault tomorrow. [People, NYP]
• You may have thought Azzedine Alaïa was having a lousy week what with the plot by Anna Wintour to snub him at the Costume Institute gala. But he appears to be rebounding nicely. Michelle Obama wore a lovely Alaïa number to the Time magazine party last night. [FWD]
• Speaking of the gala, it raised $2 million less than last year. [WWD]
• Derek Lam's first boutique opens tonight. [Style.com]

• More photos, commentary, and criticism from last night's Costume Institute Gala, assuming you're not totally sick of hearing about it by this point. [W, Pipeline, Glamour, NYM, NYT, SF]
• Rumor has it Kate Moss is planning to write her autobiography. We can't wait! [Grazia]
• Narciso Rodriguez, Thakoon Panichgul, and Maria Cornejo —all three of whom happen to have dressed Michelle Obama—have lovely things to say about the first lady's sense of style. [WWD]
• A tour of Jason Wu's apartment. [NYM]
• Eva Mendes and Jamie Dornan will be appearing in the new ad campaigns for Calvin Klein Jeans and Calvin Klein Underwear. [WWD]

If you woke up this morning with a hangover after last night's Costume Institute gala, keep in mind that it could have been worse. Proenza Schouler's Jack McCollough (left, with partner Lazaro Hernandez) reportedly spent the night in the hospital after getting headbutted by Kiefer Sutherland during an after-party at SubMercer. No word on exactly what started the fight, although it apparently had something to do with Brooke Shields. We always knew fashion was vicious, but this may be taking it to a whole new level. [GoaG]

Fashion's biggest event of the year, the Met's annual Costume Institute Gala, took place last night. The evening wasn't without some drama: Designer Azzedine Alaïa, who felt his work was underrepresented in the "Model as Muse" exhibit, asked several of the models who he had dressed for the party to skip it, and both Naomi Campbell and Stephanie Seymour complied. But 650 other celebrities, designers, and models—including co-chairs Marc Jacobs, Kate Moss, and Justin Timberlake—braved the controversy (and rain) and walked the red carpet anyway. A few photos of the hits and misses after the jump.

• It wouldn't be fashion's biggest night without a bit of drama thrown in to spice things up. Naomi Campbell, Linda Evangelista, and Christy Turlington are reportedly skipping the Costume Institute gala this evening, possibly because Kate Moss was chosen to co-chair the event; meanwhile, Karl Lagerfeld, Azzedine Alaia, and Domenico Dolce and Stefano Gabbana are all staying home, perhaps because Marc Jacobs has "commandeered the event" by buying two tables and dressing Moss, Madonna, and Kerry Washington. [P6]
• The Chelsea Clinton wedding rumors continue: The Boston Globe reports the former first daughter and Marc Mezvinsky may get hitched at Ted Danson and Mary Steenburgen's home on Martha's Vineyard in August, which is when the Obamas will be in town, too. [BG, NYDN]
• Kelly Killoren Bensimon says picking on her has become "the new recession vocation." Sounds about right. [R&M]

• Mayor Bloomberg has proposed raising the sales tax by half a percentage point. That's certainly not going to do much to help struggling retailers, now is it? [NYDN]
• With a fresh batch of stores and restaurants closing each day, life on the UES has gotten pretty depressing. [NYT]
• A few weeks ago, Thom Browne denied that his fashion company was in trouble. The fact both his CEO and CFO departed the company today certainly doesn't bode well. [WWD]
• A few notables not expected at the Costume Institute Gala on Monday: Karl Lagerfeld, Carine Roitfeld, Matthew Williamson, and Bernard Arnault. [FWD]

• 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]

• Is fashion in need of a bailout? Some people seem to think so! [NYT]
• The debut of Matthew Williamson's line for H&M resulted in a "mild frenzy," although it didn't reach Topshop levels of craziness. [Racked, NYM, Racked]
• Meanwhile, Williamson's debut in London attracted the likes of Sienna Miller and Mischa Barton, among others. [Vogue UK]

• Mayor Bloomberg has pronounced it "Sparkle Week" in NYC as part of an effort to give a boost to the jewelry industry. They sure could use the help: Retailers in the Diamond District report that sales have dropped by more than 50 percent over the past year. [NYM, Crain's]
• Jil Sander's new Madison Avenue store has opened its doors. [Racked]
• Lauren Hutton was injured while surfing a couple of weeks ago, but she's still hoping to make it to the Costume Institute ball. [NYM]
• Is Chloe Sevigny single-handedly trying to bring back the sandals-and-socks look, or was the combo of sun and booze at Coachella to blame? [Frisky, JJ]

• Topshop opens tomorrow, in case you haven't heard. [NYT, Racked, NYM, Glamour, Pipeline]
• If you wish to bypass the madness in Soho, the first-ever Balenciaga outlet in the U.S. opens tomorrow at the Woodbury Commons. [NYM]
• The British media just about melted at the sight of a J. Crew-clad Michelle Obama today. [WWD]
• The Costume Institute gala is a mere four weeks away but getting people to sponsor tables hasn't been easy work for Anna Wintour. If you notice fewer mentions of Burberry, Versace, and Gucci in future issues of Vogue, now you know why. [FWD]
• Dowdy retail chains are trying to spiff things up in order to appeal to "modern women who are now shopping for style within their means." [NYT]
• Resort season isn't quite what it used to be. [WWD]
• Why is Lorenzo back in NYC? Where's Marc? It's a mystery! [Fashionologie]

♦ Given that one obvious way to fill up stores despite the recession is to sell hyped, cheap designer clothes, it's no surprise that H&M has announced another high-end collaboration: British designer Matthew Williamson (left) will launch a line next spring. [Elle UK]
♦ Sad: Upper East Side retailer Linda Dresner, who introduced the likes Yohji Yamamoto, Comme des Garçons, Ann Demeulemeester, and Martin Margiela to New York, is closing at the end of the year. [WWD]
♦ Not so sad: Imitation of Christ, the overpriced and gimmicky label founded by Tara Subkoff and sold last year to Sass & Bide's former CEO Josh Sparks, is no more. [Racked]

♦ Kate Moss is joining honorary chair Marc Jacobs as co-chair of the next Costume Institute Gala Benefit at the Met, along with Anna Wintour and Justin Timberlake. [Telegraph]
♦ Jacobs will also be hosting Housing Works Fashion for Action auction on November 13th. And it's not just his karma bank that's overflowing: He just signed a five year deal with Staff International SpA to produce a men's collection. [Fashionista, WWD]
♦ Mark your calendars: On November 25th, Sarah Jessica Parker's familiar voice will be the one you hear when you take the audio tour of the "Costume: The Art of Dress" exhibit at the Costume Institute. [The Pipeline]