Cityfile: New York's Most Notable and Influential

• Courtney Love may be incapable of paying her AmEx bill, but that isn't stopping her from launching her own clothing line. Coming soon: "cotton ribbed body suits" and "cashmere harem pants." [Grazia, SW]
• Emma Watson is the new face of Burberry. [Vogue]
• Bee Shaffer may be attending posh parties at the Venice Biennale right now, but she's also job hunting at the moment, in case you weren't aware. Then again, she's also interested in studying acting, so she may just do that instead. [FWD]
• Five months after he was kicked to the curb, Fabien Baron is returning to Interview as the mag's editorial director. [WWD, FWD]
• Now's the time to hit up Save Fashion; the festivities end on Friday. [Pipeline] More

• The giant Burberry sign was illuminated atop its new HQ last night, and a big party at the Palace Hotel followed. [WWD, SF, FWD, NYM, Fashionista]
• Calvin Klein is launching a new scent called "Free," which it most certainly will not be. And Kate Moss also has a new fragrance planned. [WWD, Grazia]
• A company is making "tan through" swimwear! "The fabric allows 80% of sunlight through the bathing suit, so you don't get tan lines." [Cut]More

• Mayor Bloomberg has declared Thursday to be "Burberry Day" in honor of the lighting of the Burberry logo atop the company's new HQ at 444 Madison Avenue. [FWD]
• It looks like the Gianni Versace CEO Giancarlo Di Risio will be departing the company after going head to head with Donatella Versace. [WSJ]
• Italian officials have accused Domenico Dolce and Stefano Gabbana of tax evasion, and have threatened the duo with a $1+ billion fine. [Cut]
• You may want to think twice before you try and squeeze into a pair of skinny jeans. They've been known to cause a nerve condition called "meralgia paresthetica," otherwise known as "tingling thigh syndrome." [MSNBC]More

• Don't feel too bad if you're staying in the city for the long weekend. Take advantage of the big Memorial Day sales instead. [NYDN]
• Burberry's new Madison Avenue HQ opens on May 28; the building's sign will get switched on then, too. [Hint]
• Today in C-list celebrity fashion news: Alyssa Milano has debuted a baseball-inspired collection; and Heidi Montag is releasing a line of bikinis. [SW, SW] More

• Rachel Roy has a new line—and it's one even her soon-to-be ex-husband should be able to afford: Roy is introducing a lower-priced collection for Macy's that she's named Rachel-Rachel Roy. [Shophound]
• Besties Shoshanna Lonstein Gruss and Charlotte Ronson are teaming up on a line called Shoshanna Made With Love Charlotte Ronson. [WWD]
• What does Karl Lagerfeld look like the morning? He'll fill you in: "I look like a madman, like something out of a horror movie!" [Fashionologie]
• "Bread-line chic" is all the rage these days. [NYT]More

• Topshop opens tomorrow, in case you haven't heard. [NYT, Racked, NYM, Glamour, Pipeline] 
• If you wish to bypass the madness in Soho, the first-ever Balenciaga outlet in the U.S. opens tomorrow at the Woodbury Commons. [NYM]
• The British media just about melted at the sight of a J. Crew-clad Michelle Obama today. [WWD]
• The Costume Institute gala is a mere four weeks away but getting people to sponsor tables hasn't been easy work for Anna Wintour. If you notice fewer mentions of Burberry, Versace, and Gucci in future issues of Vogue, now you know why. [FWD]
• Dowdy retail chains are trying to spiff things up in order to appeal to "modern women who are now shopping for style within their means." [NYT]
• Resort season isn't quite what it used to be. [WWD]
• Why is Lorenzo back in NYC? Where's Marc? It's a mystery! [Fashionologie]

• Barneys is trimming staff: The company cut 76 jobs today. [Crains]
• Topshop's signage is here! And a whole bunch of people will be on hand for the big opening on April 1, naturally. [Racked, NYP]
• Sign o' the times: The old New York sign in Midtown has been replaced by one for Burberry. [Racked]
• The Valentino doc did pretty well for itself its opening weekend. [FWD]
• Tiffany posted a sharp drop in fourth quarter profit. [NYT]
• Remember those fish pedicures that generated so much press a few months back? You may want to note the practice is now banned in 14 states. [WSJ]

• Two people very happy this evening: Jason Wu, who designed Michelle Obama's one-shoulder white chiffon gown; and Isabel Toledo, of course, who was responsible for the lemongrass-yellow coat and matching dress that Michelle wore to the inauguration. [NYT, AP, WWD]
• As for Malia and Sasha's outfits—and Michelle's olive gloves—don't go searching for them at J. Crew just yet. The pieces won't be available to the general public until fall. [Reuters]
• Trousergate, fashion's latest catfight: Giorgio Armani has accused Domenico Dolce and Stefano Gabbana of copying his quited trousers; bitchy comments on both sides have followed. [Guardian]
• A first look at Alexander McQueen's new line for Target. [Nylon]
• News flash: There aren't that many blacks on the catwalks these days. [NYT]
• Profits are up at Burberry, but the company is still cutting staff. [WSJ]
• Aretha Franklin's inaugural hat can be yours for $179. [WWD]

• A new shade of lipstick created in honor of Michelle Obama is a "shimmery bronze that works with many skin tones." Alas, "adorable daughters and hot, incredible husband not included." [Nylon]
• Burberry's spring ad campaign features an all-Brit cast including Lily Donaldson. [Vogue UK] 
• Is ID Models finished? [Fashionista]
• The new Kelly Cutrone reality show will track her as she "tries to get clients into top-tier publications," makes phone calls, and books photo shoots. [NYM]
• More details on that cap André Leon Talley's been wearing: He purchased it from a man selling stuff off the back of a truck who was "wearing a peacoat embellished with no less than a diamanteé Obama silhouette." [stylefile]
• Photos of some of the YSL items going up for auction early next year. [VF]

• Vanity Fair's "International Best-Dressed List" (international meaning Americans, a few aristo/celeb Brits and random Eurotrash/royals) isn't exactly controversial, but listees like Carla Bruni, Ivanka Trump, Michelle Obama, Sarah Jessica Parker, Matt Lauer, Kanye West and Julian Schnabel can feel pleased (or even more pleased) when they look in the mirror today. [VF]
• All models have to do is weigh 100 pounds and not get caught on camera doing drugs. Is that too much too ask? Usually, yes. Burberry model Rosie Huntingdon-Whiteley was photographed—oh no!—with a bong. Which hardly lives up to her Burberry precedessor Kate Moss's umpteen fat rails. [Daily Mail]

• In the new Burberry campaign unveiled today, Agyness Deyn (who was dropped by the label for being overexposed) has been replaced by another New York-based British model, Rosie Huntington-Whiteley (left). The 21-year-old, who is dating Rolling Stone scion Tyrone Wood, says the two of them were friends until fame went to Deyn's head. Has the Agy backlash started already? [Daily Mail]
• Speaking of Burberry, Forbes estimates their alligator Lowry bag is the kind of accessory you should invest in during these lean times. Sure, it's $23,000, but it's timeless! [Forbes]
• The horror: The dress worn by Naomi Campbell to Nelson Mandela's 90th birthday dinner in London on Wednesday had been worn by Stephanie Seymour to the Costume Institute gala last month. Stephanie, prepare to have your eyes scratched out. [Fab Sugar]