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Your morning fashion and beauty report: Victoria's Secret Fashion Show draws some yawns.

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Da bomb or bust? Well, there were certainly a lot of busts in evidence at Tuesday night's airing of the (prerecorded) "Victoria's Secret Fashion Show 2010," along with much fantasy lingerie (like the $2-million diamond-encrusted bra worn by Adriana Lima that we previewed on All the Rage a while back), but as television it was one big commercial, despite the efforts of entertainers like Katy Perry. [Entertainment Weekly]  [Washington Post]

Lingerie is a go-to Christmas gift for the man trying to impress a wife or girlfriend, and the trend this year -- across the pond, at any rate -- is bondage-style underpinnings. Hmmm. Somehow "bondage lingerie" just doesn't seem quite the right ticket for this time of year. [Telegraph]

Tuesday's auction of jewels once owned by Wallis Simpson, the late Duchess of Windsor, fetched about $12.4 million -- much more than the pre-auction estimate that the 20 pieces might bring in around $4.7 million. [WWD]

Alexandra St. Clair, a jewelry company that creates limited edition and one-of-a-kind pieces from semiprecious stones, crystals, base metals and vintage objects, has opened a holiday pop-up shop at 8207-A W. 3rd Street in Los Angeles. [Mondette]

Every year Pirelli, the European tire company, sends an arty calendar to select VIPs. This year, Karl Lagerfeld was in charge of the design and shoot, and on Tuesday he unveiled his handiwork, which features photos of 15 women (including Julianne Moore) and five men done up as (dressed isn't the right word here) figures from Greek and Roman mythology. [The Cut]

Judith Leiber, the venerable handbag line, plans to reenter the fragrance market with "Night," launching in January. [WWD] (Suscription required.)

Hermes and LVMH have been slugging it out over control of Hermes, and it is a feud that has two of France's richest families engaged in an epic battle. [WWD] (Subscription required.)

-- Susan Denley

Photo: Katy Perry with Victoria's Secret chief executive Sharon Turney. Credit: Mike Segar/Reuters.

 
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