Florence Welch Is the New Face of Gucci; Moncler Canceled Plans to Go Public

• After selling a 45 percent stake to French firm Eurazeo for over $611 million, Moncler SpA has canceled its plans for an IPO. [WWD]

• Frida Giannini on picking British musician Florence Welch as the face of Gucci’s fall 2011 campaign: "As I was imagining this collection I was thinking of a strong and somewhat mysterious muse. Florence is that kind of woman." [Vogue UK]

Andrej Pejic booked a new cover: L’Officiel Ukraine. [Design Scene]

Glamour’s newsstand sales have dropped by 17 percent so far in 2011. [WWD]

Jason Wu is relaunching his website with an e-commerce section. Starting today, his spring and pre-fall handbag lines will be available for sale online. [Stylefile]

• Here is a video of Ford's male models showing their abs. Happy summer! [Jezebel]