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Your Morning Fashion and Beauty Report: Michelle Obama's elegant American style

May 2, 2011 |  8:46 am

While everyone was still drooling over Friday's royal wedding fashion, First Lady Michelle Obama showed elegant American style at Saturday night's White House correspondents dinner, in a mauve-chocolate empire-waist gown, accessorized by multiple bracelets and necklaces. She wore her hair in flattering loose curls. [StyleList] 

Also at the dinner, Scarlett Johansson debuted her new red hair color, joining numerous celebs who've been going the red route. [StyleList]

Proenza Schouler's Jack McCollough and Lazaro Hernandez are working on a costume-jewelry line that is to include year-round, classic pieces that will be brought out each season in different colors and materials. [WWD]

California action-sports brand Volcom is being acquired by French luxury lifestyle group PPR -- which also owns Gucci and Puma -- in a deal reportedly valued at $607.5 million. [Wall Street Journal]  [WWD] (Subscription required.)

French designer Léa Peckre, 26, won the L’Oréal Professional grand prize, worth about $22,000, at the Hyères International Festival of Fashion and Photography over the weekend. The collection was described as "cemetery themed," and it featured an angular tailcoat-inspired jacket in black velvet and skirts with organic flounces richly embroidered with wood-effect sequins. [WWD]

-- Susan Denley

Photo: President Obama and the first lady at the White House correspondents dinner, April 30, 2011. Credit: Jason Reed / Reuters