Ralph Lauren’s Olympic Feat, Azealia Banks Goes Gaga and the Magic Mike Trailer

Edited by Lester Brathwaite

-  Jacob & Co., the jeweler famously name-checked in practically every rap song from the early-00s, has apparently knocked off Brangelina‘s engagement ring, though they claim to have already had a similar style in their bling repertoire. [Fashionista]

- Who else but Ralph Lauren would design the US Olympic and Paralympic teams’ opening and closing ceremony looks? The US Olympic Committee revealed the quintessentially American designer’s vision for the latter yesterday and naturally the only thing missing is a gold medal or two. [WWD, sub req'd]

25 Top Fashion Moments of 2011

Edited by Lester Brathwaite

‘Twas one hell of a year for fashion, 2011.  Alexander McQueen triumphed this year thanks to a pair of well-documented dresses and a bona fide cultural phenomenon at the Metropolitan Museum of Art. Christian Dior tried to rebound from a potential PR nightmare, to varying degrees of success. Diffusion lines easily out-shined their designer homes.  An editrix reinvented herself amidst a sea of rumors without losing a beat.  And underaged fashionistas grew up in front of our very eyes. Here are our picks for the 25 most memorable and stylish moments of 2011. 

Lindsay Lohan’s Playboy Cover Springs a Leak All Over the Internet

Edited by Lester Brathwaite

Boy, when something leaks these days, does it ever leak. Rolling into every crevice of society like so much used bath water. Which is the perfect way to describe the Lindsay Lohan Playboy cover that debuted late yesterday and has already managed to trickle its way down the hairy leg of the internet. 

I’m Sorry, I Can’t Go to Jail Yet — My Boobs Need to Be Re-Photographed by Playboy: The LiLo Story

Edited by Lester Brathwaite

The one-woman carnival — where everyone gets to ride, but only for a hefty fee — known as Lindsay Lohan is slowly winding down for yet another stint in jail*, but before she reports for her 30-ish days behind bars, she has some business to take care of. Dirty business.

Betsey Johnson Watches Victoria’s Secret Steal Her Models

Edited by Jessica Lapidos

In an executively tucked away nook of Macy’s Herald Square, Betsey Johnson sat at a conference table as her curly haired assistant applied a second coat of glittering blue nail polish and ten sparkling watches to her limbs. She was just fashionably late enough to allow time for a couple of quick Qs, and seemed genuinely disappointed that she couldn’t give us Lots N’ Lots of Time, but her hundreds of fans downstairs awaiting her arrival were getting anxious for her to appear to launch her new timepiece collection: Lots N’Lots of Time.

INDIE NEWSROOM: Kanye Rumored to Show at NYFW…Kate Moss Cuts Honeymoon Short…Behind the Robert Duffy Body Double Conspiracy

Edited by Lester Brathwaite

- According to their “excellent sources” — ten bucks it’s Amber Rose – Grazia is reporting that aspiring designer and occasional rapper Kanye West will debut his womenswear collection at New York Fashion Week this September. [Grazia]

FASHION SCRAMBLE: Decarnin’s Balmain Replacement + Marchesa Does Playboy + Anna Puffs on a J. Crew

Edited by Lester Brathwaite

-  Olivier Rousteing is expected to step into Christophe Decarnin‘s allegedly crazy shoes at Balmain, according to WWD, making good on its promise of hiring an “unknown.” Rousteing, a key deputy under Decarnin, has worked for Balmain since 2009 and was at Roberto Cavalli for six years prior. The label will reportedly announce Rousteing’s appointment as early as next week. Sounds like Balmain’s bold shoulders are in good hands. [WWD]

MUSE OF THE WORLD: No More Lives to Live, Dov’s Playboy Dreams and Backtracking with Matthew Williamson

Edited by Lester Brathwaite

- Here’s proof that there really isn’t life after 40. ABC is cancelling 40-plus year old soap operas All My Children and One Life to Live, leaving only General Hosptial to carry on the softly-lit torch. So where does that leave Erica Kane? How will she survive without rivals to plot against, bitches to slap and men to steal? Or will she just fade silently into that great realm of grand diva bitches…Palm Springs. [Daily Beast]

RED CARPET REPORT CARD: Holly Madison in Hervé Léger by Max Azria

Edited by Amanda Gabriele

In this edition of Red Carpet Report Card,  Holly Madison will be graded on her Hervé Léger by Max Azria Resort 2011 look worn to a beer pong tournament at O’Sheas Casino in Las Vegas. See how she looked after the jump.

Having Sex with Hef Not the Worst Thing About Playboy Mansion

Edited by Lester Brathwaite

Former bunnies are spilling on life behind the sticky walls of the Playboy mansion just days after Hugh Hefner announced his engagement to Playmate, Crystal Harris. Jealous, much?