• "It has been the most incredible gap-year project," says Emma Watson on her new ethical fashion line. What happened to Habitat for Humanity? [WWD]

• Quoth the Chanel-clad sorceress: "I wanted to help People Tree produce a younger range because I was excited by the idea of using fashion as a tool to help alleviate poverty and knew it was something I could help make a difference with." [Telegraph]
• Coco Rocha takes a more traditional path, going with her church to work in Costa Rica. "My religion has always been important to me." [FashionWeekDaily]
• Christian Audigier, the man behind douche-outfitters Ed Hardy and Von Dutch, is for some reason going to be in a movie. "Explains" his agent, "The guy is a natural... Christian is into fighting, boxing, martial arts. And he wants to show people that side. That skill set." Oh, he's also cutting an album. [GQ]
• Speaking of multimedia: Versace has launched Facebook and Twitter accounts. As Karl Lagerfeld could tell them: demode. [WWD]
• If you don't feel you can exactly pull of Aretha's inaugural chapeau, here's a more wearable option: the Queen of Soul, avec chapeau, immortalized on a limited-edition tee. [New York]
• Whoa: Gaultier for Target? We could use a $20 cone bra...[WWD]
• And speaking of collabs: Christopher Kane for Topshop is awesome, selling brilliantly. Bring. It. Here. Now. [Independent]
• Says LVMH's prez: "There are four main elements to our business model-product, distribution, communication and price. Our job is to do such a fantastic job on the first three that people forget all about the fourth." They're not there yet. [Economist]
• Leigh Lezark, the somewhat vacant, sinister and inexplicably beloved former Misshape, has been tapped as the "brand ambassador" for Charles Worthington's new range. [ElleUK]
• Speaking of celeb faces, Alexander Wang: "Today, more than ever, it definitely makes a difference. But for us, it's always about finding the right person, whether it's an A-list celebrity or someone on the Internet who understands our brand and has a lot of influence on people." [WWD]
• A Coach employee is suing his supervisor for sexual harassment. "It was one of those weiner dogs and he would say, 'Ok, I have a big weiner, you wanna come see my weiner?'" [NYDN]
• Oh noes! Prescriptives - and its awesome custom-blend foundation - is a recession casualty. Parent company Estee Lauder is shutting the brand down as a cost-cutting measure. [WWD]
• Apparently Emmanuel Ungaro chose Lindsay Lohan for the role of "artistic adviser" over Madonna and Paris because the troubled starlet brings "something younger, more cool, with a different attitude." That and she has bullshit-fashion experience from Project Runway! [AP]
• "Microluxury" - teeny-tiny dolly-sized luxe accessories - are, maybe, the wave of the future. Or maybe not. [Time]
• Ann Taylor's flaks must be working overtime: the working-gal's label, working hard to change its frumpy image, got a whole laundry-list of celebs to go to the runway show. In attendance: Jennifer Esposito, Vanessa Williams, Mena Suvari, Gretchen Mol, Kelly Rutherford, Kelly Bensimon, Laila Ali, Katherine McPhee and Amanda Bynes. [WWD]
• Speaking of brands trying to turn it around: Gap is experimenting with a "Results-Only Work Environment" in which "employees are empowered to work whenever and wherever they want as long as the work gets done." Were guessing it's not quite as fun as that sounds. Because we can fold from a bar just fine. [BW]
• The skint Lacroix has a number of "suitors of means." Await reports on possible saviors. [WWD]
• Well, this one will work for sure: new cellulite-busting tights have crystals in the weave that'll shear the bumps right off. [Daily Mail]
• Tommy Hilfiger is a rebel: his new flagship is on Fifth Avenue. "Donna, Ralph, Calvin, Oscar, Michael? They're all on Madison," a block away, he declares. [Style.com]
• British psychiatrists are warning that London Fashion Week, with its accompanying trigger for ED-prone girls who regard the models as "thinspiration." [Telegraph]
• Meanwhile, anti-sweatshop protesters are taking on the tents. Celeb faces of "Love Fashion Hate Sweatshops" include Gael Garcia Bernal. [Mirror]
• At Peter Som's show, "the especially young models, perched in shiny chrome or deep-blue pumps, posed in groups of three on white pedestals while the crowd milled below them." The designer was inspired by "cruise ships, antique photographs and Japanese prints." [Observer]
• Isaac Mizrahi, meanwhile, celebrated his return to Fashion Week with the theme "Astaire Case or Obstacle Course." [Yahoo]
• Celebrity stylist Philip Bloch is filling the need for another style manual. The Shopping Diet: Spending Less and Getting More is, he says, "something all of us shopaholic recessionistas need — a self-help on excess shopping." [NY Post]
• Inevitably, teens can now buy a copy of the prom dress Bella Swan wore in Twilight - from the very town where Bella got hers! Can a vampire escort be far behind? [NYDN]

Anyhow friends, the moral of the story is this: For every really idiotic ephemeral fashion trend out galvanizing the brainless youngsters, there are a couple of rich bankers shitting themselves about how to recoup their ill-advised investment in it. And that is probably the closest we can come to justice in the world.

Related note: What was the last dumb trend you personally invested in? Manhattan Portage? A Prada mini-backpack? Confess here! (Also: American Apparel deep-Vs do not count because I said so.)

Is '7' More Than A One-Hit Wonder [WSJ]