• Zoolander II news! Owen Wilson says he and Ben Stiller are at work on the the long-awaited sequel, which should be released in 2012. Wilson also says he wants Lady Gaga to make a cameo. [Monsters&Critics]

• The Australian government has developed a vaguely worded, voluntary code of conduct for designers, modeling agencies, and fashion magazines intended to foster healthy body image among consumers. The code includes these provisions:

• Sarah Burton, who has worked for Alexander McQueen since 1996, was named its new creative director. Cathy Horyn came out in support of Burton as a potential McQueen successor in March. Burton was previously head of women's wear. [WWD, Telegraph]

• Michelle Trachtenberg is designing a line of jewelry for Coach's Poppy brand. Expect "colorful crystals." [WWD]
• Zac Posen is doing a lower-priced line, Z Spoke, which will be available exclusively through Saks Fifth Avenue come spring. It starts at $78:

• Marisa Miller has earned the most coveted position of all the Victoria's Secret runway girls: Wearer Of The Diamond-Studded Bra. Her equipment costs $3 million. "It's surprisingly comfortable," says Miller. Sure looks it. [People]

• Katy Perry, like Lady Gaga before her, has succumbed to the charms of Jean-Charles de Castelbajac's fall collection. The singer wore this dress to the label's spring show — which is like wearing the band t-shirt to the concert. [People]

In what is hopefully the final chapter in the JCPenney scandal of August 2009, the New York Times issued an apology of sorts for Cintra Wilson's now-notorious "Critical Shopper" takedown of JCPenney that appeared in the paper earlier this month.

Renata Espinosa: "Sailor striped knits paired with the slouchy denim-very Jean Paul Gaultier. A tie-dyed vest half wrapped around my neck like a scarf, layered under another long black knit vest over rubberized leggings? A little Rick Owens, maybe." [DailyBeast]

• Gwyneth Paltrow's clothing line with Zoetees is hitting stores this month. The collection includes tee shirts, studded tank tops, and a grey oversized blazer — fine basics, but there's no indication why the line should start at £100. [Elle UK]

In the days since we gave our take on Cintra Wilson's J.C. Penney review, the thing's taken on a life of its own: Wilson's three apologies, a barrage of abuse on her site and a lot of media coverage.