Olivier Theyskens

When you see Theyskens' Theory collection, you are reminded of the extraordinary fact that this is one of high fashion’s most romantic, deeply talented designers creating clothes for a contemporary American sportswear brand, which has become known for their well-fitting pants. It’s a most unlikely (and brilliant) collaboration. Olivier Theyskens plays that note between edgy and feminine like a virtuoso violinist — there’s a delicacy to even the most basic pieces that makes us sigh. For Spring 2012, there was a standard outfit: a pair of slouchy skinny pants worn over the sky-highest heels ever, with a metallic top and an exquisitely tailored tweed jacket that bore all the markings of a world-class designer. “Basic sweaters” had cutaway backs and crochet details, and were often woven through with metallic threading. One incredible green beaded jacket, as ornate as anything to be found in designer or even couture collections, shiny pants that looked like they had been cut from rainbow-hued cellophane, and a glowing white shift were made for the cool disco set. He finished with delicate organza gowns, one black and one oyster-hued, with a cutaway back and a slightly transparent quality. In short, it was dreamy.

• Trends: Tailored jackets, metallics, crochet, downtown chic.
• Colors: Silver, chrome, metallic green, white, gray, navy.
• Key Piece: Tailored tweed blazers that look even better from the back, metallic "cellophane" pants, a beaded green jacket.
• Accessories: Sleek bags, including a large square, flat portfolio bag, insanely high platform stilettos, and motorcycle boots.
• Who Would Wear It: Sleek, downtown girls.

>> The first Theory collection that Olivier Theyskens had a hand in designing is just rolling into stores, and both parties involved — Theory founder Andrew Rosen and Theyskens — continue to seem pleased with the partnership. Rosen told the New York Times in an article published over the weekend that he didn't want to put constraints on Theyskens's design process, but that he did want him to know how the clothes were selling: “We want Olivier to understand that a lot of what he’s doing is working but some things aren’t." And Theyskens seems to be enjoying that type of information — apparently, his debut Theyskens' Theory was bought nearly in its entirety. “It’s the first time ever,” he said, noting that when he designed ready-to-wear at Rochas or Nina Ricci, stores usually bought his extravagant dresses rather than the everyday basics.

See Malgosia Bela in the new Fall 2011 Theory campaign, plus a few of our favorite Fall 2011 Theory pieces that are now available, in the slideshow.

>> “There’s a playfulness in mixing things up,” Olivier Theyskens said while introducing his Resort 2012 Theyskens' Theory collection, which continued the designer's study in slouch. Bias-cut dresses were covered in prints inspired by the work of painter James Ensor; blazers were given U-shaped cutaways and collar slits to give them the ease of a cardigan, Theyskens explained; and acid wash made an appearance on shorties and slouchy denim.

>> Olivier Theyskens's collection for Theory is now available online and ready for shopping. “The collection is for cool girls that like to wear clothes that are visionary, while still being right for today,” said Theyskens. “These clothes are what I would wear if I were a girl." Prices range from $70 to $980 and include sharp tailored pieces, like a leather blazer, and silk palazzo pants. Our favorite pieces from the collection in the slideshow.

>> Karl Lagerfeld first shot Maison Michel's lookbook back in 2009 (the millinery's art director Laetitia Crahay doubles as Chanel's accessories designer), and now he's back to capture the Spring 2011 Maison Michel collection, bringing some of his favorite faces along with him. In addition to highlighting the famous Maison Michel bunny ears, the lookbook also features new pieces like sculpted metal headbands, floral hair pins, and posh trilby toppers modeled by the likes of Olivier Theyskens, Irina Lazareanu, Leigh Lezark, Abbey Lee Kershaw, Lou Doillon and her son Marlowe, as well as Mark Ronson and girlfriend Josephine de la Baume. The complete lookbook, which features special pieces designed for Opening Ceremony, in the slideshow.

>> Last night, the 2010 CFDA/Vogue Fashion Fund winners were announced, but before they could be named during the dinner gala at New York's Skylight Studios, the results were leaked on WWD's Twitter: Billy Reid won outright, and Prabal Gurung and Eddie Borgo were both named runners-up.

Style.com's Nicole Phelps wrote that the results were a bit of a surprise: "Many in the audience had pegged Gurung and Joseph Altuzarra as the front-runners." But nevermind: the prizes were even bigger this year, with Reid granted $300,000 (up from $200,000), and Borgo and Gurung each taking $100,000 (up from $50,000). "The main prize is the mentoring we provide," CFDA president Diane von Furstenberg noted of the increase, "but a little cash never hurts."

The rest of this year's finalists — Christian Cota, Robert Geller, Oliver Helden and Paul Marlow of Loden Dager, Pamela Love of Pamela Love Jewelry, Moss Lipow and Gregory Parkinson — were treated to a keynote speech by Karl Lagerfeld, who talked about how much fun Yves Saint Laurent was "before Pierre Berge" and advised: "Young goes. But good? If you're good, it may all last."