Something fascinating occurred this week in the Universe of Diva Fashion. Rihanna, one of the Universe's top trendsetters, stepped out wearing hot-pink nipple pasties under a sheer black top. Only they weren't even nice nipple pasties like the silver stars she glued to her boobs on the Fourth of July, but just pieces of tape that made an "X" over each nipple — like cheap, recession-era DIY nipple pasties. Now, in April, Lady Gaga stepped out in a sheer black top with black tape concealing her nipples in much the same fashion. What is fascinating is not necessarily the pasties or style of the pasties, but that Rihanna did something Lady Gaga has already done. After all, before we had Gaga, Rihanna had solidified her place as a top trendsetter, and not only with her amazing, ever-changing hair dos. Maybe in the way that not wearing pants and looking generally beyond ridiculous is Lady Gaga's thing, Rihanna is trying to make nipple pasties her thing. But why? She already has so many signatures. Her hair, as we mentioned, her insanely fierce jewelry, her elaborate nails, her edgy taste in designers. She doesn't need to take cues from Gaga. The world only needs one Gaga, and Rihanna is fierce, fabulous, and worthy of obsession all on her own. But she does need some new bras or opaque shirts or some strategically placed Kermit the Frog dolls, dammit, because this nipple-pasty thing has got to stop. A little décolletage is one thing, but exposing the entirety of one's underboob — nay, boobs — is more vulgar than running around in only a leotard, blazer, and panty hose.

Singer Rihanna's revealing style strategy: Star-shaped pasties [NYDN]

Kate Moss, Erin Wasson, Elle Macpherson, and, most recently, Amber Valletta have all added "slash designer" to their job titles. Taking clothes designed by models seriously is hard enough for us, and we can barely stitch a button on a sweater. After blogging about fashion for long enough, we've learned to accept and sometimes (ironically) embrace their work. But Hussein Chalayan doesn't stare at fashion on the Internet all day, has created technologically magnificent dresses with LED laser lights, and once struggled for funding. So these model clothes don't amuse him in quite the same way. WWD reports:

“If you have a really strong sense of style and people want to aspire to being like you, I can understand that,” he says. “But if you really are doing it just because you think of yourself as a brand and you haven’t had the training and you know nothing about clothes, it kind of demeans all the training that designers have had.”

We wrote off charm bracelets sometime back in the nineties; the novelty of collecting a representative trinket for every occasion faded fast. We’ve since seen various incarnations of the personalized jewelry trend, from Carrie Bradshaw–spawned nameplate necklaces to Swarovski’s crystallized empire. But L.B. Valentine’s double-sided letter charms caught our eye with their tongue-in-cheek, mockingly cute images. "U" pairs a unicorn on one side with a pair of well-endowed tightie-whities; "J" depicts a jackpot and the ubiquitous jumpsuit; "T" shows a comely trapeze artist and target practice; and "M," fittingly, is for man and magnet (there’s something cheekily amusing about a having tiny male torso inscribed in fourteen-karat gold). Who says you have to stick to your own initials?

L.B. Valentine charms, $67 (sterling silver) or $496 (fourteen-karat gold) each at Auto or online.

Time to check in on Christian Lacroix! This week, the designer submitted a joint bid for his bankrupt company with Italy's Borletti Group. The French Industry Minister invited him to a meeting yesterday and Lacroix described their conversation as "extremely positive." If the bid goes through, Lacroix would become a shareholder in the company. Also, the house's couture and licensing businesses would remain open while a new ready-to-wear line is developed. The plan could also include the launch of a new fragrance.

Courts won't rule on the bids until September. But the company's rescue is sounding increasingly likely. Lacroix also noted the support of "people in the street." The government, which regards Lacroix's brand as a symbol of France, also wants to see the label flourish. France is so wonderful sometimes.

Lacroix Meets With French Minister [WWD]

Taylor Momsen paired a hot-pink minidress with a cropped motorcycle jacket and knee-high lace-up platform boots while performing with her band, Pretty Reckless, at her Sweet Sixteen birthday party last night at Hiro Ballroom.

Would you wear a lingerie-inspired look?

Related: Taylor Momsen Had Sebastian From NYC Prep to Her Birthday Party [Daily Intel]

At the beginning of the year, the legendary Katie Grand abandoned her editor-in-chiefdom of Pop for Condé Nast's new Love magazine. She took most of her Pop staff with her, leaving Pop's very survival uncertain. Then Russian socialite Dasha Zhukova was randomly installed as Grand's replacement, as though every experienced stylist or editor that might have had a shot at filling Grand's shoes had joined the Peace Corps. Prior to the appointment, which the fashion world blatantly scoffed at, Dasha was arguably most famous for her relationship with Russian billionaire Roman Abramovich. But Dasha's fist issue of Pop is due out September 1, so it's time for her to start doing damage control. You know, reaffirming her talent, credibility, and fashion expertise to the fashion industry. Perhaps that's why she agreed to do an interview for Interview, which obnoxiously waxes on for four pages before even getting into Pop.

Fran Drescher — yes, she of The Nanny — is launching a collection of organic skin-care products exclusively with HSN this fall. Named FranBrand, the nine-piece line includes a cleanser, toner gel, day lotion, eye gel, night eye cream, night face cream, body moisturizer, face serum, and lip balm (available on the HSN channel and online starting November 10). Drescher was hands-on in the products' creation, working for over a year with a chemist in California and an organic manufacturing plant in Oregon. "Women are schmearing stuff on their décolleté, wondering why we're all getting breast cancer. Once you wake up and smell the coffee, it's hard to go back to sleep. So I'm sounding the alarm," Drescher tells us, noting that as a survivor of uterine cancer and founder of the cancer nonprofit organization Cancer Schmancer, she made it a priority that all manufacturing facilities, formulas, and packaging are organic, paraben-free, and carcinogen-free. "I couldn't possibly sell something that wasn't good for me. I'm still in therapy because I put other people's needs above myself."

Also of interest: When she's not hocking FranBrand, Drescher's continuing to spend her time working for the State Department as a public-diplomacy envoy for women’s-health issues. "I'm sent all over the world. I'm going to the Middle East in November, right after I launch FranBrand. Hillary is my new boss. I love her. She's great. I already spoke at the White House — Mrs. Obama invited me." So did she give Michelle any FranBrand yet? "No, not yet. I can't wait."