For Barack Obama's acceptance speech in Denver last night, Michelle Obama wore a dress by Thakoon Panichgul. [WWD]

Karl Lagerfeld will help out with two Coco Chanel films currently in the works. He will work with the costumer for Chanel et Stravinsky and supervise the re-creation of costumes for Coco Avant Chanel, starring Audrey Tautou. [Fashionologie]

Burberry is continuing its U.S. expansion by opening its first U.S. children's store on November 7 at The Westchester mall in White Plains. [Vogue UK]  read more »

Much has been said about the party Gucci and Madonna will throw on February 6 at the United Nations. But relatively little is known about the fête’s raison d’être—the opening of the fashion brand’s largest store ever, its flagship to end all flagships.

Today, The Daily Transom was given some information about Gucci’s forthcoming Fifth Avenue digs. And from the looks of things, when the store opens its doors in February, it will realize the dreams of all manner of folk—from society ladies looking to prolong the buzz of a boozy lunch at Michael’s to T-shirted tourists ogling.  read more »

The massive, earth-shattering February 6 party Gucci is planning to coincide with the opening of their biggest store will be held on the lawn of the United Nations in Turtle Bay. “A Night to Benefit Raising Malawi and UNICEF,” which is what the fete has been named, is to be the first event of its kind to take place on that strip of land, the north lawn, which is technically international territory.

Joining Madonna, the party’s co-host, musical performances will be given by Alicia Keys, Timbaland and Rhianna. There will also be a special presentation by Columbia professor Jeffrey Sachs. Chris Rock will emcee a live auction. The evening’s co-chairs include: Drew Barrymore, Adrien Brody, Salma Hayek and François-Henri Pinault, Sting and Trudie Styler, Demi Moore and Ashton Kutcher, Gwyneth Paltrow, Arpad Busson, Matthew Broderick and Sarah Jessica Parker, Téa Leoni and Lucy Liu. [WWD]

The new landlord of an old Chinatown shop that was repeatedly raided by counterfeit-merch cops this past summer has counter-sued the city for $8.5 million in damages.The offending retailer, known as G.T. Trading, has since been booted from the premises, located at 196 Grand Street, and the landlord claims to have even removed the former tenant's secret stash room.

Yet, an ongoing court injunction prevents the owner from leasing out the now-vacant 400-square-foot space and may further cause the owner to default on his mortgage, according to court papers.  read more »

Ridley Scott, the Gladiator director who just finished American Gangster, will go Gucci, directing a feature for Fox about the drama-filled family, according to Variety.  read more »

Gucci is planning to open its largest store on Fifth Avenue and 56th Street in February, Women’s Wear Daily reports today. To mark the occasion in blow-out style is only fitting for the second goliath of global fashion brands. After all, it’s been an integral part of the hyper-provocative celebrity aesthetic since Tom Ford became its creative director in 1994. On February 6, Madonna and Gucci will join forces to throw a launch party, which will also serve as a benefit for the charities Raising Malawi and UNICEF.

Confirmed co-chairs at what’s already been billed Gucci’s “biggest event ever,” include the brand’s current creative director Frida Giannini, Salma Hayek and her fiancé, PPR chief executive François-Henri Pinault, Gwyneth Paltrow, Adrien Brody, Sting and Trudie Styler, Téa Leoni, Lucy Liu, Demi Moore and Ashton Kutcher, London-based hedge fund mogul Arpad Busson and, for good measure, Columbia University professor Jeffrey Sachs.

"I am grateful that Gucci is joining forces with me to bring attention to a country with millions of children in desperate need of our help…Raising Malawi has already done tremendous work in helping these children," Madonna said of the upcoming Gucci benefit.