>> Prada is set to launch a jewelry capsule collection in November, consisting of crocodile cuffs and sparkly statement earrings, necklaces, and bracelets that are embellished with colored gems and resin roses. The collection, which hits Prada boutiques just in time for holiday shopping, is priced starting from 350 euros ($488). Fashionista has a look. [WWD, Fashionista]
>> As rumored, the 2012 Costume Institute Gala and exhibit will focus on Italian designers Elsa Schiaparelli and Miuccia Prada.
Elsa Schiaparelli and Miuccia Prada: On Fashion will run May 10 to Aug. 19, and will be underwritten by Amazon alongside Conde Nast. Serving as honorary chair at the May 7 gala is Jeff Bezos, founder and CEO of Amazon, with Carey Mulligan, Miuccia Prada, and Anna Wintour as co-chairs. Baz Luhrmann will act as creative consultant to the exhibition, helping to oversee its design.
Curators Harold Koda and Andrew Bolton aim to examine the way Schiaparelli and Prada broke fashion convention and played with the ideas of good and bad taste as well as their affinity to the art world. “Once we got Schiaparelli as the core part of what we wanted to do, it became a logical jump to Miuccia,” Koda said. “They are both Italian women, and even though Miuccia might not describe herself as a feminist, what we see is these two very strong women with a very strong aesthetic.”
The exhibit is expected to feature about 80 designs by Schiaparelli from the late '20s through the early '50s and by Prada from the late '80s through present day, drawn primarily from The Costume Institute's collection and the Prada archive.
![2012 Costume Institute Gala Theme: Miuccia Prada, Elsa Schiaparelli [Reports]](http://media3.onsugar.com/files/2011/08/35/1/166/1668379/965121311bc60945_107354772.xlarge/i/2012-Costume-Institute-Gala-Theme-Miuccia-Prada-Elsa-Schiaparelli-Reports.jpg "2012 Costume Institute Gala Theme: Miuccia Prada, Elsa Schiaparelli [Reports]")
>> After this year's record-breaking Alexander McQueen-themed exhibit, what will the Costume Institute pick to focus on for the 2012 gala and exhibit? WWD reports hearing that Miuccia Prada and Elsa Schiaparelli will be the focus, but further details could not be learned, and the Met declined comment on the matter. [WWD]
>> While many used their Resort 2012 collections to go beachy — a number of designers even trying their hand at swimswear for the first time — it's clear that Miuccia Prada was thinking holiday instead. In amongst the oversized gingham check and eighties-y lightning bolt prints of Miu Miu's Resort 2012 collection were party-ready balloon minidresses, piles of costume jewelry, and strappy glitter heels — the collection will hit stores near the end of the year, after all.
>> Fans of the Prada lip print, rejoice — it's back in mini form on skirts, dresses, tops, and bags for Miuccia Prada's Resort 2012 collection. But it's not the only print in the collection by a long shot — grids, '60s floral brights, dots, and even lace fill out the offering. Prada accessorized each look with a printed foulard and/or beret, and lady-like pumps, mules, or sandals — no chunky platforms in sight.
>> After his menswear show Tuesday in Milan, Giorgio Armani denounced the fashion industry for being "in the hands of" high finance rather than the fashion houses themselves. "I’ve wanted to say something about this for awhile, and now’s the time: Fashion is in the in the hands of the banks [and] the stock market," Armani told reporters. "It no longer belongs to the owners, but to those above them. I still haven’t been able to understand how the banks influence our line of work — it’s a mystery."
When he was asked whether his comments were a reference to Prada's recent IPO, Armani replied: "I don’t have debts. Instead, Prada’s problem is that they have to pay back the money that the banks spent to build up the brand." He noted that he preferred independence and had no plans to sell his company. "There are thousands of ways to make money. But for me, I don’t want to wind up having to knock on the door of some Thai managers to explain myself."
Armani also suggested that houses like Prada and Dolce & Gabbana make men look ridiculous, and blamed the press for not being more critical about clownish runway styles that men don't wear. Prada is "ingenious" for her "irony," he said, "and bad taste that becomes chic." But, certain Prada collections are "sometimes ugly," he noted, and stil always get positive coverage in the press. "You know why . . . " His clothes, meanwhile, he said make men look more handsome and elegant.
Both Prada and Dolce & Gabbana declined to comment.
>> No familiar faces populate Prada's Fall 2011 campaign, save one: Frida Gustavsson. In fact, most of the rest of the Steven Meisel-shot cast hasn't even set foot on a runway — as is the case for North Carolina-bred Ondria Hardin and Arizona native Kelly Mittendorf, the two other campaign faces who have been revealed so far. [Models.com, TFS]
>> Every two years, the fashion flock meets the art world in Venice for a series of parties and power buys. This year, Hogan, Prada, and Missoni have been among the Venice Biennale event hosts, bringing out guests like Anna Wintour (who was spotted yesterday riding around the city's Grand Canal), Dasha Zhukova, and Naomi Campbell. While some have already come and gone — Anna Wintour, Francois-Henri Pinault, and Salma Hayek Pinault were already spotted attending the French Open in Paris today — we've the fleeting moments of the last couple of days' festivities captured in our slideshow at left.
>> As Prada prepares for its initial public offering in Hong Kong later this month, details that were once kept private about the company are now being filed publicly. Last week, we learned that Prada is estimated to be worth some $15 billion; Now, thanks to a 450-page document released today by the Hong Kong Stock Exchange website, we know that Miuccia Prada earned 9.7 million euros (approx. $14.1 million) last year, while her husband and Prada CEO Patrizio Bertelli made 10 million euros (approx. $14.6 million) in the same period of time — making them "two of fashion’s best-paid stars," as WWD points out. [WWD]
