As we look forward to welcoming 2012 with open arms, we must also look back on a year that has had quite its fill of fashion highs and lows. Needless to say, there's never a dull moment in the industry and we've loved every second of its sartorial suspense, trendy takeaways, dresses to-die-for, red carpet sizzles, model moments, and of-the-minute style inspiration. It's safe to say 2011 was one for the books and to bid it adieu properly, we're highlighting the year's biggest and most fashion news headlines. Want to know what made our jaws drop? Click through to find out the five biggest fashion headlines of the year.