Gap

All the bits that are fit to print — here, in our daily news roundup.

• If the rumors are true, Versace will design Lady Gaga's costumes for her upcoming Born This Way Ball tour. [Vogue UK]
  

• Burberry just landed in Chicago, outfitting the largest store on the Magnificent Mile with the brand's signature Burberry plaid. [WWD]
  

• Move over Michelle, America has two new fashion plates: Malia and Sasha Obama. [NY Times]
  

• Fashion vocab word of the day: showrooming (v), the act of visiting a brick and mortar store, seeing an item you like, then using your phone to find and purchase it at a lower price. [Glamour]
  

• Trend forecasters report that consumers are growing weary of fast-fashion brands like Zara, H&M, and Forever 21. [Racked]
  

• Joanna Lumley's wardrobe from Absolutely Fabulous raised £15,010 (or $23,786 in the current exchange rate) at a recent auction. The sum was nearly triple what was expected. [Vogue UK]
  

• Charles Philip, whose slipper designs are favored by celebrities like Jessica Alba and Rihanna, has filed a lawsuit against The Gap, claiming the retailer has not only copied his designs, but even used a similar name for a collection of shoes selling at an 80 percent discount. [NY Post]
  

• Ralph Lauren celebrated its Downton Abbey-inspired Fall collection with a dinner and fashion show at Highclere Castle — the setting of the show itself. Carson, the butler, was, sadly, not present. [Ralph Lauren Facebook]

File this one under amazing under-$100 $60 finds. Sometimes we strike shopping gold without even seeking it out. Such a moment occurred when this perfect Gap leopard-print sheath ($60) stopped us dead in our tracks. It may have started with the standout print, but upon closer inspection, it's also a pretty perfect silhouette. The cinched waist and figure-flattering darting earned a universal stamp of approval here at Fab. We also agreed that it could pretty much pull double- or even triple-duty as far as occasions are concerned. It's office-appropriate, date-appropriate, cocktail-appropriate . . . We could keep going, but we're sure you get the point. And, this universally appealing little sheath would work just as well with edgy biker boots and a leather jacket as it would with a blazer and a pair of pumps. It's really up to you to put your own spin on it.

Congratulations are in order for two London-based designers who aren't showing at that city's Fashion Week: Alistair Carr has just been appointed head designer at McQ, and Rebekka Bay has been named creative director of Gap.

Carr had kept a low profile since leaving his post as creative director of Pringle of Scotland in April, where he spent a little over a year reinvigorating the sweater brand with lots edgy knits and contemporary appeal. He'll present his first McQ collection for Pre-Fall 2013.

Bay, meanwhile, is known for founding H&M's higher-end line COS in 2006. She left in 2011 to become creative director at Bruuns Bazaar, but will start as Gap's creative director and executive vice president of design on Oct. 1. She'll be responsible for all product sold in the brand's 1,600 stores worldwide and online.

She replaces the brand's last creative director, Patrick Robinson, who was let go in May 2011.

Photo: a look from McQ's Fall 2012 show.

While hunting down a pair of Gap's ballet flats, we happily came across the brand's fresh crop of other flats — a lineup of on-trend, suede and calf-hair loafers and slippers that — ready for the best part? — retail under $50. So, whether your tootsies need a break from your Summer heels and wedges, or you're looking to stock up on some new, preppy-cool wares for Fall, look no further. We're particularly drawn to the leopard-print calf-hair versions for a playfully on-trend feel; though in any finish, they're a stylish solution for our tired feet (and tired footwear!).