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Beyonce Wears $9 Million in Diamonds to Accept CFDA Fashion Icon Award [Elle]
The news that Beyonce was the “surprise” winner of Monday night’s CFDA Fashion Icon Award was the worst kept secret of the evening. What did come as a surprise, however, was the fact that the superstar chose to accessorize her glittering Givenchy pantsuit — custom-made by Riccardo Tisici — with $9 million of Lorraine Schwartz diamonds. A 100-carat necklace ($7M), 25-carat studs and no fewer than four diamond rings topped off Queen Bey’s look. They don’t call her a fashion icon for nothing.
Burberry Creative Director Christopher Bailey’s Salary Slashed by 75 Percent [The Guardian]
Amid continuously falling sales, Burberry is undergoing a few internal changes in an effort to turn things around. To start, creative director Christopher Bailey is taking a massive pay cut — from an annual salary of £7.5 million to £1.9 million. The 75 percent pay cut can mostly be attributed to the fact that he did not receive a bonus; in 2014, Bailey received a £5.7 million bonus, which made up a significant portion of his pay.
Social Media (Over)Reacts to Hillary Clinton’s $12K Armani Jacket [Yahoo]
Hillary Clinton is no stranger to taking flak for her fashion choices. This time, the former secretary of state was criticized for wearing a pricey Armani jacket during a speech while on the campaign trail in April. The New York Post pointed out that while speaking on income inequality, Clinton was rocking a red tweed blazer priced at $12,495.
Pat and Anna Cleveland Cover Vogue Italia [Instagram]
One day after Kate Moss and her daughter, 13-year-old Lila Grace, landed a Vogue Italia cover, one more cover from June’s “Love” issue has surfaced — this one featuring another famous mother-daughter duo. Pat Cleveland and her daughter, model Anna Cleveland, as well as her husband, Pat van Ravenstein and her son, Noel van Ravenstein, were photographed by Mario Sorrenti for the not-so-average family portrait.
Ralph Lauren to Close Stores, Layoff Staff [Washington Post]
Ralph Lauren CEO Stefan Larsson on Tuesday revealed a new plan to investors which he hopes will help the company recover from falling profits. The shake-up includes shuttering 50 underperforming stores and eliminating nearly 1,000 jobs. The company also plans to narrow its focus on its core brands — Ralph Lauren, Polo Ralph Lauren and Lauren Ralph Lauren — and its signature, all-American aesthetic in order to revamp the business.
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