Italian designers Domenico Dolce and Stefano Gabbana of high fashion label Dolce and Gabbana fame have been found guilty of tax evasion in the Italian appeals court. Both designers along with their accountant Luciano Patellito have been sentenced to one year and six months of jail time for not paying taxes on royalties and hiding hundreds of  millions of euros from Italian tax authorities.

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Companies affiliated with African American beauty brand Carol's Daughter has filed for Chapter 11 bankruptcy. The brand founded in 1993, by Lisa Price (aka Carol's Daughter) makes hair, body and skincare products using natural ingredients geared towards Black women. The company has received financial support from celebrities  like Mary J Blige, Will and Jada Smith, Jay Z, and has even appeared on Oprah, but is wasn't enough to help push sales and they have been unprofitable since 2010.

Price built her beauty empire out of her kitchen and has enjoyed the help of celebrity endorsemnets by the likes of singer Solange Knowles, model Selita Ebanks, and singer/model Cassie, although Solange left for undisclosed reasons and a campaign lead by investor Steve Stoute went terribly wrong.

 Carol's Daughter products are available in over 2,000 retail stores including Target, Macys, Sephora and also sells through it's website and the Home Shopping Network. After letting go of 29 employees and closing five of their seven stores, the company is said to be refocusing it's strategies. 

Adidas is KILLING it right now with all these street and high fashion collaborations! The roster already includes Kanye West, Pharrell  and founder of A Bathing Ape, Nigo- who is now creative director for Uniqlo- not to mention past partnerships with Jeremy Scott, Stella McCartney, Raf Simmons and Rick Owens.

 The newest addition to the Adidas design family is British fashion designer Mary Katrantzou, who shot to fame a few seasons ago with her hyper digital print dresses that everyone became fascinated with.  She will design apparel and shoes for the brand and it is slated be released in November. You can bet she will add her cool, colorful and edgy aesthetic to the sportswear brand, which is also rumored to be a long term collaboration. 

Fast fashion retailer H&M's next big designer collaboration will be with urban street style champion, Alexander Wang. The announcement was made (very appropriately, given Wang's audience) this past weekend at the Coachella festival, and will hit the stores and online on November 6, 2014 with merchandise and accessories for men an women.

 Wang, a favorite among young, hip, urban city dwellers also designs for the French house Balenciaga and gives the label a sophisticated but cool street vibe that has "Wang-ites" clamoring to wear his pieces. Wang will be joining fashion brands Isabel Marant, Margiela, Versace and Lanvin  who all have had highly successful collaborations with the Swedish retailer. This collection is sure to sell out in seconds! For more info please visit: hm.com

Congratulations to designer Tom Ford and his partner of over 27 years, Richard Buckley, former editor of Homme Vogue for tying the knot this past weekend. The very reserved Ford is keeping tight lipped about the nuptials but had this to say,

"We are now married, which is nice," Ford, 52, said of his commitment to 
Buckley, a journalist and former Vogue editor. "I know that was just made legal 
in the UK, which is great. We were married in the States."

Ford and Buckley met at a fashion show in 1986 and have been together ever since. The former Gucci alum and the journalist also have a son together.

In other news it is rumoured that Victoria Secret model Chanel Iman and "Fashion Killa" rapper ASAP Rocky are engaged as well. The two began dating in early 2013 and have been inseparable on the the red carpets and off. Neither have confirmed nor denied the rumours, but if true congratulations to both of these happy, stylish, fabulous fashion couples!

Ever been to Australian Fashion Week and saw a look come down the runway that you had to have IMMEDIATELY? Yeah me neither lol, but  IMG, the company that hosts the Mercedes Benz Fashion Weeks have come up with a solution that allows interested consumers to purchase pieces directly from the runway show  via their website or by phone. The difference between this site and Moda Operandi is that the items ship in approximately eight to 10 weeks instead of several months later.

This all happened just in time for Mercedes Benz Fashion Week Australia that began on Sunday.  Fashionista.com reported that their local retail stores are feeling the heat of  fast fashion stores like H&M moving in and literally shutting down local brands with their cheap pricing and cute clothes, so it makes sense that Australian designers are the first to jump on it and  are courting international sales.

 No word on what other cities will participate in the future, but it will be interesting to see... This model seems ideal for socialites, fashion editors and other fashionistas with long money lol, but not so much for the poor designers who now will be forced to hurry and create capsule collections in order to stock their online stores.