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Lacoste

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Despite the Heat Wave, Couture Soldiers On

Plus: Marimekko moves to protect its trademark against Dolce & Gabbana, Lacoste partners with the Australian Open, and classic supermodel partying in London.

Designers Catch Yellow Fever

We were expecting grays, browns, and blacks for fall. But banana yellow? Not so much. Kimora Lee Simmons sent Little Miss Sunshine down the runway in a floor-length yellow dress at Baby Phat, while Lacoste complemented the loud color with a dark cardigan. And Nicole Miller brightened up traditionally dark outerwear with a three-quarter-sleeved coat of color. This isn’t mellow yellow.

Lacoste Is So Over the Celebrity Thing

Lacoste doesn’t like famous people. No, seriously: "We don't really care about personalities," said Lacoste designer Christophe Lemaire. "We feel it's a stupid game to play. There are so many famous people wearing Lacoste anyway, we don't need to pretend or show off." [WWD]

Richard Arens Is Having His Moment

FINANCE • Trader Richard Arens, who runs a brokerage named ABS, made a vanity trade in order to push oil past the $100/barrel milestone. We're sure the girls at the bar will be real impressed. [MarketBeat/WSJ] • Citigroup will likely start laying off between 5 and 10 percent of its workforce next week, cutting as many as 32,000 jobs. Merrill Lynch plans to cut around 1,600. [CNBC] • Former E*Trade CEO Mitch Caplan, who helped load the company with the subprime loans, made off with a $11 million golden parachute. Compare that with former H&R Block chief Mark Ernst, responsible for his own big subprime losses, who took home a paltry $2.5 million. [Deal Journal/WSJ, DealBook/NYT]

Lovescool's Bakery Open in Gramercy; Pupu Platters From the Fifties in Queens

Astoria: Chickenhead is playing at the beer garden this Saturday from 8 p.m. to midnight. [Joey in Astoria] Clinton Hill: J & J Cafe on Fulton near Waverly is already closed, but don't hold your breath for the next newcomer. With all the construction in the area “there's little use opening anything in that space…it's almost completely invisible.” [Clinton Hill Blog] Fresh Meadows: Old-school Chinese-American restaurant Kim Yum has been serving Pupu Platters and strong drinks since the fifties. [Gothamist] Gramercy: Dessert blogger and Golden Scoop award winner Kelli Bernard has opened her bakery and tea house at 171 Third Avenue between 16th and 17th streets. [NewYorkology] Harlem: Harlem Tea Room tries to pull a fast one: “This may not be a sticking point if you haven’t grown up with scones, but they are not biscuits. They just aren’t. Biscuits are lovely things, but you cannot claim to sell homemade scones and serve biscuits.” [Uptown Flavor] West Village: Gusto chef Amanda Freitag puts oodles of autumn into her recipe for free-form pumpkin ravioli with apple-cider reduction. [Restaurant Girl]

Jann Wenner Has No Contingency Plan

Jann Wenner
As Rolling Stone celebrates its 40th anniversary (and celebrates, and celebrates), Business Week's Jon Fine discovers that 62-year-old founder Jann Wenner has no plans for succession. "I haven't thought about it all," Wenner told Fine. Selling the company is "not inconceivable," he says. But "it's not on the table now." In his column, what Fine finds inconceivable is the Rolling Stone's own staying power. It "astounds" the media critic that a magazine with no emphasis on the Web and a baby-boomer focus manages to have such a cache with advertisers. But as Wenner ages, who will his mini-empire of RS, Men's Journal, and Us Weekly pass to? A sale would sock Wenner and his estranged wife, Jane, with massive capital-gains taxes, Fine argues, so they're unlikely to want to sell. In other words, what we expected all along will probably come to pass. Wenner will never let go of Rolling Stone until he is 90 years old and the magazine has to run shots of Bruce Springsteen's grave to keep up its annual Boss cover quota. The Last Tycoon of Print [Business Week] Related: The Odd Couple [NYM]