Oscar doesn't just celebrate the best in films, it also features the best and the worst in fashion. But even with all the elegant gowns and some questionable tastes on the red carpet, there are just two who stood out: Amy Adams with her $1.35 million jewelry and the unpredictable fashion of Helena Bonham Carter.

British fashion designer John Galliano has been arrested and briefly held in Paris for allegedly verbally assaulting and making anti-Semitic remarks to a couple. High fashion clothing label Dior has suspended Galliano, their chief designer, pending the outcome of the police investigation over the incident.

Luxury goods retailer Mulberry postponed plans Thursday to open a second factory in Britain because of the high tax rates in the country. Mulberry Chief Executive Godrey Davis pinpointed the impact of rising National Insurance rates on operating costs.

Target's GO International collections, which sees the budget-friendly retailer collaborating with some of the biggest names in fashion, have proven to be so popular, some of the looks have sold out within hours.

Fashion is all about trends and this year, we're seeing a very new one on the runway. Models have gone from thick to thin and back again, but now we're seeing a new trend amongst them: male models in female couture.

The Dockers brand is challenging men to "wear the pants" in a new contest. The khaki company launches "Wear the Pants Project" contest, which encourages patrons to take action for a chance to win $100,000.

The always fabulous Diane Von Furstenberg said she was disappointed with Michelle Obama for choosing to wear a non-American to a State Dinner, but now says she's embarrassed by the comment and wants to apologize.

Kelsey Grammer's ex-wife, Camille Grammer, is joining CNN as the cable news channel's special correspondent for the Oscar telecast. The "Real Housewives of Beverly Hills" star will be an on-location co-host for "Showbiz Tonight: Road to Gold" special.

The Fall 2011 collections of Mercedes-Benz Fashion Week New York ended with the L.A.M.B. show by musician and designer Gwen Stefani and Ivana Helsinki's vision for the coming winter. The second season of shows at Lincoln Center saw over 85 onsite shows, among them 16 new designers that showed for the first time, as well as 16 associate members presenting in other locations.

"Project Runway" fixture Tim Gunn is writing a bible for the fashion industry.

Emma Watson has been honored with a Style Icon award by no less than fashion legend Vivienne Westwood at the Elle Style Awards Monday. The problem is, Westwood had no idea who Watson is, and she wasn't shy to let everyone know it.

Now that "Harry Potter" is coming to an end, Emma Watson is adding to her modeling resume. She's been named the new face of Lancome.