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Your morning fashion and beauty report: What do Michelle Obama and Lady Gaga have in common? (Hint: They both rock!)

October 8, 2010 |  8:48 am

Obama
Lady

We are pleased that two of our fashion icons are on Forbes'  list of the 100 most powerful women. And how different in style, looks, spheres of influence, talents and so on  can you be than Michelle Obama and Lady Gaga? Go girl power! [LAT]

Steve Madden has upped his investment in Betsey Johnson and now owns the company. [The Cut]

I keep thinking that Diane von Furstenberg is popping up everywhere lately. Now she's just signed a deal for a new beauty line. [WWD]  (Subscription required.) 

Here's another cool costume idea for Halloween (yes, it's just a couple of weeks away and we're tossing out ideas here at All the Rage when we find good ones). Take your inspiration from "Sex and the City 2" and go Abu Dhabi style, with a turban, big gold jewelry, maybe a belly dancer outfit. [FabSugar]

Valerie Plame wore -- what else? -- Giorgio Armani at the Giorgio Armani and Cinema Society-sponsored opening of the film "Fair Game." In the film, Naomi Watts plays the former CIA agent. Sean Penn plays her husband Joseph Wilson. [WWD]

Tamara Mellon plans to launch a Jimmy Choo fragrance line. For some reason, that just seems odd to me. [Elle UK]

-- Susan Denley

Photos: Top, Michelle Obama with the world's most powerful man. Credit: Pascal le Segretain / Getty Images.  Bottom, Lady Gaga performs. Credit: Michael Buckner / Getty Images

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