• Versace's lower-priced women's ready-to-wear line, Versus, will relaunch in September with a full-collection presentation in Milan. In February, Versace unveiled a line of Versus accessories designed by Christopher Kane. [WWD]

• Hermès profits fell 7 percent in the first half of the year, mostly because of poor returns on financial investments and currency fluctuations. However, sales rose 7.6 percent. [WWD]

• Steven Meisel shot Sasha Pivovarova and Ash Stymest for the homeless-chic September cover of Italian Vogue. [Modelinia]

• Marvel Comics is releasing an eight-page comic book called Loaded Gunn, which features a superhero version of Tim Gunn dressed in an Iron Man suit who saves the day at the "New York Museum of Fashion." One Gunn line: "You know, there are far easier ways to accessorize than grand larceny." [WWD]

• Beverly Hills jewelry store XIV Karats accuses Lindsay Lohan of not returning $2 million worth of jewels. She reportedly told the store that they had been stolen from her. [Radar]

• Actor Jason Schwartzman stars in the latest Band of Outsiders look book. [Refinery 29]