This just in: Richemont, the Swiss-based luxury conglomerate, announced plans to buy complete control of the wildly successful Internet retailer Net-a-Porter. In a deal that is said to value the company at $535 million, it is nearly three times the value of last years $183 million in profits. But that doesn’t worry the purchaser’s outlook; Net-a-Porter doesn’t rely on bricks and mortars to hold their business together so operating with a larger margin is no huge risk.

Leave it to Chanel to design a double-C emblazoned bocce set. The sport, most played by the Euro set, has ancestry in the Roman Empire but can thank the Italianos for developing it into its present form. The luxury fashion house has always had a knack for producing lust-worthy sporting goods—there’s already an inflatable raft, hand-assembled bicycle, three-wheel scooter, fishing rod and reel, and more in the mix—so it’s no surprise Mr. Lagerfeld found inspiration in this leisurely activity.

With the Council of Fashion Designers of America Awards just around the corner, we’ve heard some pretty unsettling rumors. But rather than pointing fingers, lets take a look at the positive buzz surrounding this year’s nominees. Conceived of to recognize outstanding talent and contribution to American fashion by all levels of industry professionals, this year’s awards are being held on June 7 at Alice Tully Hall at Lincoln Center—the new home of New York Fashion Week starting in September 2010. Nominees were announced on March 7 at CFDA president Diane von Furstenberg’s Meatpacking District Studio, and are listed below.

There is a new collaboration we can’t seem to wrap our fingers around: La Toya Jackson recently partnered with German nail salon, skin care and cosmetics brand Alessandro International on the launch of a limited edition, luxury hand cream. Dream Cream, the $225, 100-ml. cream is the first high-end, luxury product produced by the international beauty company.

Gone are the days when cracker jack prizes were enough to reward even the most grand-slamming ball playing hero. In what has become an increasingly commercialized, money-making sport, baseball players now reap the benefits of larger paychecks, signed endorsements, and, in the case of local Marlins heavy-hitter Hanley Ramirez, some bling. That’s right, folks.

With an empire that already includes ready-to-wear, shoes, and swimwear it was only a matter of time before Diane von Furstenberg delved into the world of sunglasses and eyewear. In what von Furstenberg called a “labor of love,” the Wonder Woman of fashion teamed with luxury eyewear company Marchon to create a line of shades showcasing trademark DVF designs.

In a personal tribute to pop-artist extraordinaire Andy Warhol, Italian fashion house Salvatore Ferragamo is reintroducing the only pair of men’s shoes ever designed by Monsieur Ferragamo himself. These fanciful brogues, however, are an amusing update on the original. Warhol, known for his quirky canvases—and even quirkier social circle—owned the original lace-up Ferragamo shoe, called the Salvatore, in the 80s…

The man behind Maison Martin Margiela has always been a mystery. His refusal to be interviewed or photographed has been the buzz of the fashion industry—even adding to his success and notoriety as a designer. Over recent months, fans have debated whether or not he was even still designing.

To celebrate 150 years of creating uniquely beautiful and spectacular jewelry and watches, Chopard has introduced Animal World, a collection of 150 individual pieces inspired by all pedigree of wildlife. The idea came to co-president and artistic director Caroline Gruosi-Scheufele one sleepless night, and resulted in the imagination of precious dragons, seahorses, monkeys, turtles, polar bears, and other earthly and unearthly beasts.