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Fashion News: New York hosts its Oscars, the Met Gala [Updated]

May 8, 2012 |  8:33 am

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The biggest fashion extravaganza of the year is the annual Costume Institute Gala at the Metropolitan Museum of Art -- sometimes called New York's Oscars because of the star-studded red carpet. This year's installment took place Monday to celebrate the opening of the "Schiaparelli and Prada: Impossible Conversations" exhibition. A bevy of stars turned out, along with top names in fashion. The clothes were wonderful, for the most part, as our photo gallery shows. Or sometimes funny -- Marc Jacobs wore a sheer dress. [Los Angeles Times] [New York Times] [UPDATED: a previous version of this post incorrectly said Tom Ford wore the sheer dress.] 

Attending a press preview of the exhibition, Charlotte Cowles of New York magazine's the Cut blog found the video "dialogue" between the living Miuccia Prada and the long-dead Elsa Schiaparelli (portrayed by actress Judy Davis) "a bit surreal."  [Cut]

In honor of the exhibition's opening, Racked reprinted Schiaparelli's "12 Commandments for Women," published in 1954. Among them: Women should ask for "competent criticism and advice," they should shop alone or with a man, never with another woman; and this observation: "Remember, 20 percent of women have inferiority complexes, 70 percent have illusions." [Racked] 

The New York Post reports that last week's day in court seems to be all it took for billionaire Francois-Henri Pinault -- who is married to Salma Hayek -- to reach a child support agreement with supermodel Linda Evangelista, whom he dated briefly pre-Hayek and who had been seeking financial help raising their 5-year-old son. Evangelista had said it cost $46,000 a month to care for the child. No word on what the ex-lovers settled on over the weekend. [New York Post]

Amazon is so intent on becoming the online fashion-purveyor-of-choice that it has hired three women to do nothing but try on size 8 shoes for its Web reviews, the New York Times says in a piece that takes a look at how the one-time seller of nothing but books is taking on the high-end clothing market. [New York Times]

Victoria's Secret model Alessandra Ambrosio gave birth to a baby boy Monday. [Cut]

Giuliana Rancic is designing a collection for HSN. [Styleite]

And Nicole Richie is doing one of Macy's Impulse capsule collections. [WWD] (subscription required)

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-- Susan Denley

Photos: Arriving on the red carpet for the Costume Institute Gala at the Metropolitan Museum of Art on Monday evening are, clockwise from top left, designer Zac Posen with actress Amber Heard; performer and deejay Solange Knowles, left, with designer Rachel Roy; Vogue editor Anna Wintour with daughter Bee Shaffer; and actress Camille Belle. Credit: Larry Busacca / Getty Images

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