Gisele backstage at Givenchy. Photos: Imaxtree

Every once in awhile Gisele emerges from her bubble of perfection to strut a Paris runway. Last year, Balenciaga was the lucky brand, this season, Givenchy. One might like to think, given her near goddess-status, that there’s some fault—like she’s not fun, or friendly, or only walking runway for the money (even though, of course, there is no money in runways), but these photos of the supermodel goofing around backstage at Givenchy prove otherwise. In fact, it looks like she’s having the most fun out of everyone. On Monday morning, we dreamed of being friends with Kristen Wiig and Melissa McCarthy—who knew we’d want to throw Gisele into the mix a day later?  Click through for more (the fun never stops!).

Kanye West & Chanel Iman at Givenchy's spring after party in Paris this weekend. Photo: Getty Images

Ever since Chanel Iman walked down Kanye West’s runway in Paris this weekend, rumors of their relationship (or a potential relationship) have spread like wildfire. So are they or aren’t they? Who knows. Below, arguments for yay and nay. Yes, they’re totally head-over-Céline-heels in love: They hung out at the CFDAs. Kanye called her the day before his show and was like, “Hey, will you fly to Paris to walk in my show tomorrow even though you’re a big time model who probably has things to do?” and she said yes. Chanel got to close the show. Though DW by Kanye West hasn’t earned quite rave reviews, Chanel’s worn it out and about in Paris. They went to Givenchy’s after party—together. No! They’re just friends (and sort of colleagues): In the past few months Kanye’s been linked to an Australian model named Cheyenne Tozzi… And Mary-Kate Olsen.. And Teyana Taylor… And model Kate Upton… And Miss Universe, Angela Martini. Chanel’s a model and West is now a bona fide fashion designer, it’d be weird if they didn’t hang out. So, what do you think?

A look from Catherine Malandrino's AW11 collection. Photo: Imaxtree

When Catherine Malandrino‘s name failed to show up on the New York Fashion Week calendar there were a few rumblings in the blogosphere. But when, last week, Racked started reporting on her closed store, late payments, and disgruntled staff rumors really started to swirl. Now, it sounds like Elie Tahari is in serious talks to buy Malandrino’s entire business. It’s not the first investor with whom Malandrino’s flirted. Last year, the designer brought on an investment banking firm and almost signed a deal with Kellwood, but this deal sounds more promising. Tahari’s been trying to grow his business (perhaps, as WWD speculates, spurred in part by his rival Andrew Rosen’s smart investments in everything from Olivier Theyskens to Proenza Schouler) exponentially this past year with new stores and ecommerce, and acquiring a brand like Malandrino, with loyal fans, standalone stores and an overlapping customer base, is one smart way to do so.

Photos: Getty Images

If you turned off your computer for the weekend, didn’t check your phone and/or remained totally cut off from any and all Paris Fashion Week coverage, you may not have heard that Kanye West staged his first fashion show. DW by Kanye West, named for the rapper’s late mother, debuted in the library of the Lycée Henri IV on the Left Bank of Paris. Beyoncé and Jay-Z did not sit front row, as rumored, but plenty of other A-list stars, like the Olsens, Alexander Wang, Joseph Altuzarra, Azzedine Alaia and most top editors and buyers, did. West’s casting was equally as impressive.

Milla Jovovich gives the Telegraph a great interview. When she’s done talking about male models, she mentions the future she has in mind for her three-year-old daughter—it involves yaks and Mongolia.

Photo: Target

Well that was fast. About twelve hours after confirming that Jason Wu will in fact design a one off collection for Target, the store released this sketch. The black cocktail dress is classic Wu (and Audrey Hepburn) and the close cropped hair with sharp black spikes looks like it was pulled right off his spring runway. Only five months to go until we see the whole thing! (Or less, given the Internet’s love of leaks.)

Chloe Sevigny closes Kenzo's spring show. Photo: Getty Images

When Opening Ceremony’s Humberto Leon and Carol Lim were named creative directors of Kenzo this summer, even the fashion pack—who’s devoted to all things OC—was a little surprised. But yesterday, in Paris, Leon and Lim offered a tight, colorful, well-received collection topped off with the only thing fashion loves more than OC: Chloë Sevigny. The duo went print heavy for spring, with over-sized fishnet prints in various colors on playful jackets, pants and dresses before moving into short, sporty looks with angular anoraks and funky baseball-like caps. There was a new interpretation of this season’s must-have, the peplum, wrapped around skinny khakis and an orange pencil skirt or flaring out from a yellow knit top. Parachute-like pants came in green and blue silk and their volume was mimicked on athletic-looking heels for the ultimate mix of sporty and cool. The collection was, in fact, so good that despite the earth-shattering news that Chloë Sevigny’s now a brunette, the clothes were the number one topic of conversation—at least until this morning. Click here to see the whole collection!

A look from Jason Wu's SS12 collection. Photo: Imaxtree

Now that the shopping masses have had one whole month to recover from the madness that was (is) Missoni for Target, the store’s ready to announce their next collaborator: Jason Wu. The twenty-eight-year old designer confirmed the rumored news to WWD this morning: “My collection for Target features clothes and accessories that are easily convertible from day to evening—sophisticated, feminine dresses, mix-and-match separates and playful accessories all with a bit of charm and dressed-up attitude.” Wu’s collection isn’t part of Target’s Go International program, like Rodarte’s and Proenza Schouler’s before it, instead it’s a standalone collection, which means it’s smaller than Missoni’s or Liberty’s and restricted to apparel and accessories—though we imagine his bright, flattering cocktail dresses will be just as dangerous to Target’s web servers. The collection will hit Target’s stores (and site) in February of next year.

Photo: Twitter

File this under reasons to be jealous you’re a) not in Paris, b) not a model, c) not the kind of model who walks Céline shows for Phoebe Philo. Into the Gloss‘ Emily Weiss just Tweeted this picture of models Josephine Skriver and Julia Frauche backstage at Chloé this morning. They’re carrying their new fall Céline bags, because every model who walked in the show yesterday went home with their own.