Photo: Getty Images

First Lady Michelle in Michael Kors and the newly re-elected President OBAMA!

Michelle Obama wore a Michael Kors magenta silk chine pintucked dress last night as Obama was elected President for another 4 years. [Elle U.K.]

Keira Knightley wore $2m worth of Chanel diamonds in Anna Karenina. [Vogue U.K]

Gaspard Ulliel, a French actor and face of Chanel's 'Blue' fragrance, is set to play fashion icon Yves Saint Laurent in new biopic. [Hollywood Reporter]

Tory Burch files counterclaim against ex-husband Chris Burch in response to the legal battle surrounding his label C.Wonder and her own brand. [WWD]

Cameron Diaz stuns in Chanel on the cover of Elle U.K.'s December issue. [Just Jared]

Election Day street style in New York City showed plenty of patriotic/ chilly weather pieces. [Huffington Post]

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Photo: Andrew H. Walker / Getty Images

 Backstage at the Victoria's Secret Fashion Show 2011

An exclusive behind-the-scenes look at the Victoria’s Secret fashion show: The catwalk spectacular will pay homage to pop culture, the circus and the silver screen. [WWD]

Man of the moment: Ralph Lauren donates $2m to Sandy relief efforts! [Ralph Lauren Twitter]

Lady Gaga's stage costumes will be up for auction as part of a new Icons and Idols 2012: Rock 'n' Roll sale from Californian-based auction house, Julien's Auctions. [Vogue U.K.]

More VS buzz: Marks & Spencer hires Victoria’s Secret Chief Creative Officer to boost lingerie and beauty sales. [Fashion Telegraph]

Victoria Beckham wins as Womenswear Designer of the Year at the annual WGSN Global Fashion Awards in London. [Elle U.K.]

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Beckham covers Marie Claire Australia.

Brit babes Cara Delevingne and Jourdan Dunn will make their Victoria's Secret runway debut at the highly-anticipated fashion show extravaganza this week. [Grazia]

Free People has launched in Britain with a debut UK e-commerce site. [Vogue U.K.]

Victoria Beckham is red hot as Marie Claire Australia's December cover girl [Sassi Sam]

Facebook’s Director of Retail, Luxury and Fashion Partnerships discusses the ongoing shifts in consumer technology and social media which are reshaping the fashion industry. [Business of Fashion]

Sotheby's is auctioning off Estee Lauder and Evelyn Lauder's jewelry to raise money for the Breast Cancer Research Foundation. [Harper's Bazaar U.K.]

Time by Karl: Lagerfeld has a new watch collection set to launch this February [WWD]

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