The new Hollister store on Houston and Broadway seems to be pumping its fragrance outside its doors, and neighbors are pissed that it's stinking up the 'hood, the Post reports today. (One dissenter even allegedly set off a stink bomb outside the So-Cal wannabe-surfer palace in protest.) It's only fitting that Hollister has caused such a ruckus; it's part of the Abercrombie & Fitch franchise, whose stores are notorious for overpowering the olfactory nerves of anyone who walks within 200 yards of their front door. But this isn't the first time an NYC retailer has stunk up a street. In July, Diane von Furstenberg's store on West 14th Street reportedly offended passersby because its D Eau de Parfum scent wafted well beyond its doors.

Below: A recap of Fashion's Night Out and the first two days of Fashion Week.

Fashion's Night Out, Anna Wintour's faux charity event to make people shop, is well underway. What's Anna up to? We followed her to the Macy's in Queens to find out. Too bad we were the only ones there for her.

• When you first heard the Olsen twins were breaking into fashion, you had a good laugh, didn't you? Well, it's been a few years since then and now "their success in a field as competitive as fashion is impossible to deny," says an enthusiastic Cathy Horyn today. Of course, it hasn't hurt that they're super-famous and worth a gazillion dollars either. [NYT]
• Things you didn't know about Vogue's André Leon Talley: He's partial to Juice Couture shorts at home, loves Uggs ("it's a cozy shoe"), and says The Golden Girls is his fave show on TV. [TONY]

• Gisele Bundchen's baby bump was retouched out of London Fog's fall ad campaign. But if you're absolutely dying to see it, the new issue of People seems to deliver. [WWD, Cut, F'gie]
• WWI influenced fashion. So did WWII. And Vietnam. So why is it that we're not seeing the wars in Afghanistan and Iraq reflected on the catwalk? [AP]
• What went down at the CFDA's "town hall" yesterday: Anna Wintour sort of proposed flouting anti-trust laws to boost the fashion industry, Diane von Furstenberg was sort of horrified by the idea, and then Anna informed the room that she has connections in the White House. [NYO]

• The latest ad campaign for Chanel handbags, shot by Karl Lagerfeld himself, features a very Holly Golightly-looking Lily Allen. [Pipeline, Cut]
• A new front-runner has emerged to possibly take over struggling Christian Lacroix. This time it's Italian retail giant Borletti. [WWD, AFP]
• More trouble for American Apparel and its founder Dov Charney? An anonymous store manager reports Charney has been busy firing employees "he deems unattractive." [Gawker]
• Amber Valletta is the latest supermodel to launch a clothing line. [Cut]

• Are Brad Pitt and Angelina Jolie moving to NYC and into a giant apartment at the Apthorp? That's the rumor! [NYDN]
• The good news/bad news for Madonna: She's getting along much better with her ex, Guy Ritchie, which is a good thing. Unfortunately, the reconciliation isn't making Madonna's boyfriend, Jesus Luz, very happy. [DM]
• After six months in St. Lucia, Amy Winehouse is lonely, homesick, and deeply unpopular with the locals. So now she may return to the U.K. where she's totally adored, naturally, [DE]
• Boys will be boys: Leonardo DiCaprio looked like he was "on the prowl" in NYC last week. And Jeremy Piven looked like he was "ogling" Hayden Panettiere the other night. [P6, P6]

It hasn't been a fun ride for hedge fund manager Phil Falcone since he picked up 20 percent of the New York Times Co. a couple of years ago. He had to face off against the ruling Sulzberger clan for representation on the board of directors and the company's plunging stock price means his investment in the paper is now worth a few hundred million less than it once was. Today, however, he gets his money worth with a Times profile of his beloved bride, Lisa Maria Falcone, who, as the title of the piece informs us, is a "philanthropist with a sense of timing." Indeed!

More than 1,200 people descended on Skylight Studios on Wednesday night for the Whitney's annual Art Party. Sponsored by BCBG Max Azria, the designer (left, with co-host Camilla Belle) and wife Lubov welcomed the likes of Lake Bell, Lydia Hearst, Gretchen Mol, Hilary Rhoda, Calvin Klein, Jason Wu, Tinsley Mortimer, Genevieve Jones, Fabiola Beracasa, Ali Larter, Lindsay Price, Stacey Bendet, Olivia Palermo, Meredith Melling Burke, Alexis Bryan Morgan, Ivanka Trump, Byrdie Bell, Bradley Cooper, Alexis Bledel, Selita Ebanks, Hana Soukupova, Claire Bernard, Amber Tamblyn, Adam Lippes, Alexandra Richards, Anne Slowey, Lydia Fenet, Roopal Patel, Gilles Mendel, Lela Rose, Brooklyn Decker, Zani Gugelmann, Allison Aston, Esteban Cortazar, Jessica Joffee, at least two members of the Willis clan (Tallulah and Scout), and the man who runs the show at Whitney, Adam Weinberg. [PMc, Wireimage, FWD, WWD, VF, Style.com, ArtInfo]

The CFDA Awards were handed out last night. The big winners at the Oscars of fashion: Rodarte's Kate and Laura Mulleavy (left, with Kirsten Dunst) took home the award for womenswear designer of the year; Jack McCollough and Lazaro Hernandez's Proenza Schouler won in the accessories category; the prize for menswear went to Scott Sternberg of Band of Outsiders and Italo Zucchelli of Calvin Klein; and Alexander Wang nabbed the award for emerging talent. Fashion's biggest booster won something, too. Thanks to her "meteoric rise as a style icon," Diane von Furstenberg gave Michelle Obama a special award at last night's ceremony, although, sadly, the crowd had to settle for a pre-taped acceptance speech by the First Lady. [WWD, LAT]

The first stretch of the High Line may have opened yesterday, but you didn't think Diane von Furstenberg was going to sit back and relax with two more sections left to renovate, did you? She's now offering a limited-edition "large plush beach towel celebrating the opening of the High Line" both online and at her meatpacking store for $75, and a "percentage of the proceeds will go to the Friends of the High Line conservancy." [DVF]

Designer Diane von Furstenberg, who lives high above her store in a glassy rooftop aerie, is very mad at the new-ish Standard Hotel. See, the Meatpacking District trend-haus has windows that look directly into Furstenberg's crag-like lair.

Most people were pretty pleased when Andre Balazs's Standard hotel opened in the meatpacking district late last year. One person who reportedly wasn't: designer Diane von Furstenberg, who, it's said, was a little miffed that hotel guests would now be able to look out of their windows and down into her glassy penthouse apartment atop the DVF store around the corner. Balazs downplayed any reports of tension. (They'd "share views of each other," the hotelier explained.) But we can now see why she may not have been so thrilled by her new neighbor. Judging by these hi-res photos taken by a random hotel guest who uploaded them to Flickr—and didn't know what he was taking pictures of—the view isn't half bad.

The High Line, the elevated railway turned public promenade, opened last night to a select group of donors and supporters. Before the gala kicked off, Diane von Furstenberg and Barry Diller issued a challenge grant, promising to donate $10 million to the walkway if someone else came along and matched it. Hedge fund mogul Phil Falcone and his wife Lisa delivered, and while it's still unclear when the public park will actually be public—rumor has it that it may just be a matter of days now—in the meantime, venture capitalist Fred Wilson was good enough to bring a camera along to last night's event so we can all get a little peek at what's in store.

• Forbes's annual list of the highest-paid models is online and poor Gisele Bundchen has taken a blow: She's only made $25 million over the past year, down from $35 million the year before. Heidi Klum and Kate Moss were both up for the year, however, so it isn't all bad news, thank goodness. [Forbes]
• Speaking of Gisele, she is not pregnant, at least according to husband Tom Brady. [Us]
• Christian Lacroix's fashion house filed for bankruptcy in Paris today. [NYT]
• Project Runway will be the same show it's always been when it finally returns to the air later this summer. [Cut]

• Swine flu fashion has arrived! Just as you totally expected it would. [Pipeline, NYM]
• David Beckham is designing a line of men's clothes. Why? Because he can, that's why. [WWD]
• Kim Kardashian is taking a stand on the importance of honest photography in supermarket tabloid journalism. It's about time, too. [Jezebel]
• A peek inside the closets of Gisele Bundchen, Naomi Campbell, and Karen Elson. [Vogue]

• Salma Hayek wore a lovely gown by Balenciaga for her wedding to François-Henri Pinault, an entirely appropriate choice given Pinault's PPR happens to own Balenciaga. [Vogue UK, NYDN]
• Diane von Furstenberg says she's absolutely "mortified" that one of her jackets resembles an item designed by the Canadian label Mercy. A full investigation is underway, however. [WWD]
• "Washington, D.C., is the new New York," or so says Vogue's Billy Norwich. [Style.com]
• Sad, possibly true: "The client most crucial to luxury goods purveyors is no longer a Rockefeller but a Real Housewife of New York." [NYT]
• If your boyfriend/husband's birthday is coming up, be advised that Barneys is having a massive menswear sale next Monday. [Racked]

Graydon Carter, Robert De Niro, and Ron Perelman hosted a Vanity Fair-sponsored dinner at the State Supreme Court House last night to celebrate the opening of the Tribeca Film Festival. They were joined by Carter and De Niro's wives (Anna Scott Carter and Grace Hightower) and Tribeca Film Fest co-founders Craig Hatkoff and Jane Rosenthal, as well as a long list of guests, including Bono and Ali Hewson, Kanye West, Diane von Furstenberg, Jared Kushner and Ivanka Trump, Tory Burch and Lyor Cohen, André Leon Talley, Fran Lebowitz, Spike Lee ... (continued)

Topshop hosted a private dinner at Balthazar last night to celebrate the opening of its new store in Soho. Attendees included Karolina Kurkova and Georgina Chapman (left), Harvey Weinstein, Jay-Z, Jimmy Fallon and Nancy Juvonen, Zach Braff, Amy Sacco, Mark Ronson, Ann Dexter-Jones, Annabelle Dexter-Jones, Andrew Saffir, Theodora Richards, Steve Stoute, Cathy Horyn, Stefano Tonchi, Sally Singer, Amy Astley, Eva Amurri, Greg K., Leigh Lezark, Jessica Joffe, Michelle Trachtenberg, Taylor Momsen, Le Call, Jonathan Saunders, Sue Stemp, Steven Kolb, Christopher Kane, Brent Bolthouse, Emily Mortimer, Emma Roberts, Cecilia Dean, Meredith Melling Burke, Nikolai Fraiture, Santigold, Steve Aoki, Benny Shabtai, Michelle Monaghan, and Topshop's very own Sir Philip Green, along with his wife Tina and daughter Chloe. [PMc, Wireimage, Getty, Paper]

"While everyone and Matt Lauer has recently jumped on the Twitter bandwagon, did you know that Inside DVF has been twitting for quite some time?" We didn't, actually, but we were wondering what on earth gave Lauer the idea to start tweeting, and it's nice to finally have an answer. [DVF]