What follows is a minute-by-minute timeline documenting the mental and physical collapse of 20 fashion models.

• Gwyneth Paltrow is planning to give up her contract with Estée Lauder so she can focus on her website Goop.com, per the ever-reliable Daily Mail. More troubling: The paper says her plan is to "become an Oprah Winfrey-like lifestyle guru." [DM]
• Michelle Obama returned to NYC today. She attended the reopening of a wing at the Met (where she wore a coat by Isaac Mizrahi coat and sat next to Ralph Lauren, Iman, and Anna Wintour). Then it was over to opening night at the American Ballet Theater. [WWD, NYT]
• An excerpt from Lauren Conrad's debut novel has been posted online, in case you feel up to tackling some heavy literature. [Teen Vogue]
• Valentino, diplomat of fashion: "I saw the pictures of the Metropolitan gala evening last week and I never saw something more ugly." [Guardian]
• Speaking of Valentino, Time Out's current issue tests out self-tanners. [TONY]

Free Arts NYC hosted its 10th annual art and photography auction last night. Attendees at the Calvin Klein Collection-sponsored event, which was hosted by Kevin Bacon and Michelle Monaghan, included Calvin Klein's Francisco Costa and Italo Zucchelli, Amy Sacco, Glenda Bailey, Julia Restoin Roitfeld, Hilary Rhoda, Ed Westwick, Lindsay Price, Karolina Kurkova, Yvonne Force Villareal, Zani Gugelmann, Kimberly Guilfoyle and Eric Villency, Thom Browne, Molly Sims, Andrew Saffir, Beth Ostrosky, Erin Fetherston, Mary Alice Stephenson, David Granger, Helen Lee Schifter, Glenn O'Brien, Kate Schelter, Richard Chai, Jeremy Kost, Mickey Boardman, Kathryn Neale, Ross Bleckner, Simon de Pury, and Andrew Fry. [PMc, Wireimage, FWD, SF]

Cartier celebrated its 100th anniversary in New York last night with a big bash inside its Fifth Avenue store. The celeb-heavy crowd included Elton John, Kate Hudson, Jessica Biel and Justin Timberlake, Anne Hathaway, Rachel Weisz, Demi Moore, Eva Mendez, Ashley Olsen, Zac Posen, Martha Stewart, Graydon Carter, Jeff Zucker, Robbie Myers, Patti Smith, Russell Simmons and Julie Henderson, Tory Burch, Thakoon Panichgul, Erin Fetherston, Nanette Lepore, Phillip Lim, Coco Rocha, Hilary Rhoda, Daniel Boulud, Eli Weisel, Bruce Weber, Henrik Lundqvist, Ingrid Sischy, Beth Rudin DeWoody, Cornelia Guest, Susan Fales-Hill, Marjorie Gubelmann, Thora Birch, Chiara Clemente, Alexis Bryan, Dylan Lauren, Kelly Klein, and Cartier chief Frederic De Narp. [PMc, Wireimage, WWD]

Saks CEO Steve Sadove was honored at a fundraising gala for the Fashion Institute of Technology last night at Cipriani 42nd Street. Sadove was presented with an award from Michael Bloomberg ("This is an evening I like to call Saks and the City!") and guests including FIT president Joyce Brown, Olivia Chantecaille, Jason Wu (left), Carolina Herrera, Tom Florio, Fern Mallis, Robbie Myers, Joe Zee, Amy Astley, Peter Som, Stacey Bendet Eisner, Susan Fales-Hill, Dan Peres, Bill Cunningham, Scott Harrison, Steven Kolb, Saks President Ronald Frasch and his wife Georgia, former State Comptroller Carl McCall, and actress Sarah Wynter. [PMc, Wireimage, NYO, FWD]

Valentino and Vogue co-hosted a cocktail party to benefit New Yorkers For Children at Valentino's Madison Avenue store last night. Guests included Fabiola Beracasa and Erin Fetherston (left), Fern Mallis, Tinsley Mortimer, Valesca Guerrand-Hermès, Maggie Betts, Paul Sevigny, Bebe Neuwirth, Jennifer Creel, Selita Ebanks, Alina Cho, Kate Schelter, Antony Todd, Tatiana Platt, Kevin Liles, Denise Wohl, Di Petroff, Felicia Taylor, Erica and Geraldo Rivera, Sylvester and Gillian Miniter, Dori Cooperman, Maggie Rizer, Allison Sarofim, Lydia Fenet, Vanessa von Bismarck, Dayssi Olarte de Kanavos, Susan Shin, Tracy Stern, Melissa Berkelhammer, Stephanie LaCava, and, yes, "Real Housewife" Alex McCord and her husband Simon van Kempen. [PMc, Wireimage, VF, SF]

Chelsea's Lehmann Maupin Gallery played host to Glamour's "Glamour Project" last night, an art exhibit designed to celebrate the magazine's 70th anniversary. Glamour editor Cindi Leive and publisher Bill Wackermann welcomed the likes of Cynthia Rowley and Bill Powers (left), Iman, Lyor Cohen and Tory Burch, Kyle MacLachlan and Desiree Gruber, Yvonne Force Villareal, Thelma Golden, Nicole Miller, Thakoon Panichgul, Gilles Bensimon, Marcus Samuelsson, Alanna Heiss, Jeanne Greenberg Rohatyn, Evelyn Lauder, Rory Tahari, Diane Kruger, Amanda Peet, Olivia Chantecaille, Roopal Patel, Jane Lauder, Peter Som, Erin Fetherston and Hedi Ferjani, Gilles Mendel, Michael Stipe, Oscar Blandi, Lisa Airan, Charlotte Sarkozy, Alison Brod, Lela Rose, Patrick McMullan, Kai Kuhne, Waris Ahluwalia, Amy Fine Collins, and Jason Wu, who admired works by Kara Walker, Rachel Feinstein, and Marilyn Minter (among others), pieces that will be featured in the magazine's April issue. [PMc, VF, FWD, GOAG]

A recap of the shows, parties, and gossip you've missed at Fashion Week thus far after the jump.

The Villency Emerging Fashion Program hosted a dinner at Bobo on Wednesday night to honor Elise Overland and threeASFOUR designers Adi, Ange and Gabi. Eric Villency and wife Kimberly Guilfoyle welcomed a collection of fashion and social fixtures, including Zani Gugelmann (left), Byrdie Bell, Daniel Benedict and Andrew Saffir, Ann Dexter-Jones, Richard Johnson, Hope Atherton, Kate Schelter, Maggie Betts, Horacio Silva, Jessica Joffe, Glenn O'Brien, Ferebee Bishop, Gigi Stone, Tom Sachs, Serena Merriman, Poppy de Villeneuve, and Stephanie LaCava. [PMc, FWD, VF, GoaG]

Louis Vuitton celebrated Marc Jacobs' new collection in honor of Stephen Sprouse last night with an exhibition preview, cocktail event, and after-party. Marc and boyfriend Lorenzo Martone (left) were joined by a long list of fashion, art, and society types, including Donna Karan, Leigh Lezark, Nicole Miller, Jeffrey Deitch, Anna Sui, Patricia Field, Patrick McDonald, Erin Fetherston, Russell Simmons, Rachel Roy, Linda Fargo, Nina Garcia, Anne Slowey, Agyness Deyn, Molly Sims, Bettina Zilkha, Andrew Saffir, Jane Holzer, Tim and Helen Lee Schifter, Lisa Falcone, Terence Koh, Adi, Coco and Ice-T, Casey Spooner, David Hershkovits, Kim Hastreiter, Rogan Gregory, Chanel Iman, Eva Amurri, Fabiola Beracasa, Chuck and Candy Pratts Price, Brooke Shields, Amalia Dayan and Adam Lindemann, Mickey Boardman, Serena Bass and son Sam Shaffer, Glenda Bailey, Robert Burke, Peter Marino, Andres and Lauren Santo Domingo, Marjorie Gubelmann, Paul Sevigny, Andre Harrell, Andres Serrano, Stephen Knoll, Andrea Rosen, Maurizio Cattelan, Kipton Cronkite, Kehinde Wiley, Debbie Harry, Jackie Astier, Tatum O'Neal, Marcus Schenkenberg, Veronica Webb, Waris Ahluwalia, Kelly Killoren Bensimon, Dr. Frederic Brandt, Monet Mazur, Peter Davis, Dori Cooperman, Mary Alice Stephenson, Melissa Berkelhammer, Luigi Tadini, and, of course, Patrick McMullan and son Liam McMullan. [PMc, Wireimage, NYO]

Anne Hathaway and Kate Hudson were the main attractions at Monday's Bride Wars premiere at the Lincoln Square Cinema. Others who turned up for the chick flick: Vera Wang, Tara Subkoff, Rachel Roy and her daughter Ava, Barbara Walters, Cindy Adams, Erin Fetherston, director Gary Winick, producer Alan Richie, Kristen Johnson, Robert Verdi, Holly Dunlap, Damien Fahey, Mike & Juliet hosts Mike Jerrick and Juliet Huddy, Lisa Rinna, model Hana Soupkova, and Dina Lohan, as well as the cast of Real Housewives of NYC: Jill Zarin, Kelly Killoren Bensimon, Simon van Kempen and Alex McCord, LuAnn DeLesseps, Ramona Singer, and Bethenny Frankel. [PMc, Wiremage, NYO]

• The City debuts tonight on MTV! New York has details on the goings-on behind the scenes and what Olivia Palermo is hoping to gain from the spotlight: "Like, maybe I'll start a jewelry line,” [NYM]
• Is Christina Aguilera planning to design a collection for Topshop? [Mirror]
• With holiday sales the worst in 40 years, analysts are predicting 73,000 stores may close in the first half of 2009. [Bloomberg]
• Erin Fetherston may have a hotel project in the works. [HC]
• Tom Ford and Judith Leiber have new Rodeo Drive stores planned. [WWD]
• Chanel is cutting 200 jobs. [Guardian]
• The new parent company of Bill Blass says it's planning to revive the brand's high-end collection within "9 to 12 months." [WSJ]
• Dov Charney's American Apparel has another legal mess on its hands. [WWD]

A crowd of nearly 400 made their annual trip to the Bronx last Friday night for the New York Botanical Garden's 10th annual Winter Wonderland Ball. The black-and-white dinner, sponsored by Chanel, featured appearances by the likes of Cristina and Chris Cuomo, Nina Garcia, Marjorie Gubelmann, Byrdie Bell, Poppy Delevingne, Minnie Mortimer Gaghan, Steve and Christine Schwarzman, Dalia Oberlander, Gillian Hearst Simonds, Alex Kramer, Alexandra Lebenthal, Molly Sims, Holly Dunlap, Erin Fetherston, Margherita Missoni, Zani Gugelmann, Coco Rocha, Gillian and Sylvester Miniter, Bronson Van Wyck, Patrick McDonald, Stephen Knoll, Jessica Joffe, Jill Kargman, Lauren Remington Platt, Coralie Charriol Paul, Joe and Nazee Moinian, Kate Schelter, James and Whitney Fairchild, Lydia Fenet, Maggie Betts, Meredith Melling Burke, and Pamela Fiori. [PMc, Style.com, NYSD, The Daily]

Fashion Group International hosted its "Night of the Stars" gala at Cipriani Wall Street last night, where Kate Bosworth, Jennifer Lopez and Marc Anthony, Prince, Karl Lagerfeld, Ashley Olsen, Anna Wintour, Isaac Mizrahi, Donatella Versace, Allegra Versace, Georgina Chapman and Harvey Weinstein (left), Debra Messing, Jared Kushner and Ivanka Trump, Francisco Costa, André Leon Talley, Stephanie Seymour, Stefano Tonchi, Blake Lively, Penn Badgley, Alexander Wang, Bobbi Brown, Lindsay Price, Tom Florio, Christopher Bailey, Behnaz Sarafpour, Zani Gugelmann, Chanel Iman, Cindi Leive, Julianna Margulies, Christian Louboutin, Peter Som, Philippe Starck, Nina Garcia, Roopal Patel, Glenda Bailey, Tim Gunn, Jonathan Adler and Simon Doonan, Ruben Toledo and Isabel Toledo, Justine and Jeff Koons, Jonathan Newhouse, John Varvatos, Kimberly Guilfoyle, Patrick Demarchelier, Linda Fargo, Phillip Lim, Leigh Lezark and Max Minghella, Mary Alice Stephenson, and Mamie Gummer celebrated the industry. [InStyle, Wireimage, PMc]

♦ Soon-to-be-single Madonna premiered her directorial debut, Filth and Wisdom, at the Sunshine Theater on Monday night. On the red carpet and/or the after-party at the Thompson LES: Lindsay Lohan (left), Jerry Seinfeld, Naomi Watts and Liev Schreiber, Ann Dexter-Jones, David Blaine, Alan Cumming, America Ferrera, Brooke Shields, Marc Jacobs and Lorenzo Martone, Glenda Bailey, Jessica Alba and Cash Warren, Juliette Lewis, Jason Biggs, Jeremy Piven, Vanessa Williams, Becki Newton, Malin Akerman, Lake Bell, Max Minghella, Padma Lakshmi, Terry Richardson, Diane Kruger and Joshua Jackson, Joe Zee, Byrdie Bell, Fabiola Beracasa, Ferebee Bishop Taube, Zani Gugelmann, Katie Lee Joel, Beth Ostrosky, Eleanor Ylvisaker, Kelly Klein, Minnie Mortimer, Maggie Rizer, Chace Crawford, Amanda Cutter Brooks, Ingrid Sischy, Ross Bleckner, Nancy Jarecki, Derek Blasberg, Ed Westwick, Rose Byrne, Taylor Momsen, Debbie Bancroft, Terry Richardson, Bruce Weber, Guy Oseary, and Ali Wise and Jason Pomeranc. [The Daily, PMc, Wireimage, Style.com]

• Drama abounded at DKNY's show yesterday: PETA protestors burst onto the runway, shouting and brandishing placards—to the apparent amusement of André Leon Talley—while Petra Nemcova's new bangs rendered her unrecognizable and therefore unmolested by the media. Meanwhile the rather random celebrity trio of Winona Ryder, Christina Ricci, and Nicole Richie were regaled with "combinations of electric blue and black, neon pink and yellow anorak dresses, parachute pants and color-blocked knits" and a finale led by Donna Karan's five-year-old granddaughter Stefania. [The Cut, Fashionologie, NYDN, Telegraph]
  
  

1) Lisa Salzer had a party last night for her jewelry line Lulu Frost, where hosts Alexis Bryan Morgan and Elettra Rossellini Wiedemann were joined by Erin Fetherston and Hedi Ferjani, Derek Blasberg, Luigi Tadini, Kathryn Neale Shaffer, Peter Davis, Kate Schelter, and Carole Radziwill, who were rewarded for walking up the five flights of stairs with a live Cuban band and cocktails. [Paper/style file]

(1) Attendees at Sephora's party at the Angel Orensanz foundation last night included Lydia Hearst, Kelly Osbourne, Kat Von D, Nicky Hilton, Dani Stahl, Ali Wise, Jason Preston, Mike Satsky, Olivia Palermo, and Shoshanna Lonstein Gruss. The crowd, though, was more impressed by the presence of out-and-proud couple Lindsay Lohan and Samantha Ronson (above, with half-sister Annabelle) than by performances by Ashanti and Natasha Bedingfield. [Elle/PMc]

After feted collaborations with Isaac Mizrahi, Jack McCollough and Lazaro Hernandez for Proenza Schouler, Erin Fetherston, and Jovovich-Hawk, Target just announced its latest high-end partnerships: Anya Hindmarch is creating handbags for the chain and Sigerson Morrison a line of shoes. Looks like even the most outer borough-phobic Manhattan women will be making trips to Brooklyn. [WWD]

From behind her platinum bangs, publicity adorer Fetherston designs frocks for fellow pixie-ish young things.