Dakota Fanning is filming a movie titled “Now Is Good,” where she plays a leukemia patient which is probably the reason behind the new pixie cut, but we think it looks pretty good on her. The look could give Dakota a whole image and sex appeal if she does it right, so she can depart some from her little girl image. She has her younger budding sister to take over that role now. Let’s see if she keeps it after filming!

Besides rumours that the Big Boy and Andre 3000, also known as the iconic hip hop band Outkast, is working on another album, it looks like the urban fashion guru is also being tapped to play rock icon Jimi Hendrix in an upcoming independent biopic! This would be the stuff dreams are made of! We feel like there couldn’t be a better person in Hollywood to pull off the role of Jimi Hendrix. Both stars dared to be original in a time when their personal styles may not have been appreciated, and they moved on to be the change, and help to shape their entire respective generations in fashion and music. Plus there is an uncanny resemblance- or maybe its just the hair… Either way, let’s hope it actually comes to fruition!

As we all know from previous Armani campaigns Giorgio Armani has a thing for exquisitely beautiful bodies. His recent victims have included some of the hottest and biggest stars in the world, including The Beckhams, Christiano Ronaldo, and Megan Fox. So, of course the designer has tapped the ever stunning Rihanna to be his next muse. After her recent steamy videos like S&M, it must have been a complete no brainer the designer. She will be the face for the Autumn/Winter 2011-2012 Emporio Armani Underwear and Armani Jeans ad campaigns which will be released in September worldwide.

Photo: Wire Image Michael Stewart

Swizz Beatz and Joe Jonas both performed at the 2011 Sounds Like PAPER Concert at The House of Vans Last night. Both of the gentlemen were dressed exceptionally well in completely different styles. Take a look below to see how you can get similar looks without breaking the bank!

Joe Jonas Look for Less

1. Grey Spray Detailed Vest $30.00 2. Indigo Side Pocket Carrot Jean $70.00 3. Diesel Dragon Sneakers $105.00

Swizz Beatz Look for Less

1. INC International Concepts White Sport Coat $44.99 INC Slim Fit White Pants $35.99 2. French Connection David Bowie Tee $24.99 3. HeyDay High Top White Sneakers $125

With the highly anticipated album ’4′ released on Tuesday, megastar and fashion icon, Beyonce, is on a media blitz! There isn’t a channel you can turn on, youtube video you can watch, billboard passed where you can’t see her promoting the album (and all of her affiliate endorsed products of course). If you have been living under a rock and haven’t seen her perform somewhere this is your chance, AND IT’S FREE!! Tomorrow morning she will be performing in central park NYC for Good Morning America at the Summerstage from 7-9 am. The line is said to begin around 6 am, so show up early if you are interested .

Alicia Keys stood alongside her wax twin with identical pose at the wax unveiling which took place Madame Tussauds in NYC. The actual Keys wore a teal dress while the wax figure opted for a rocker chic cropped leather top and pants. Alicia Keys is currently on a promotional tour and press junket for the re-release of her seminal album, ‘Songs in A Minor.’ After performing on ‘Good Morning America’ Tuesday (June 28) morning in New York City, the R&B songstress unveiled a wax figure of herself at Times Square’s Madame Tussauds.

Jonas Bevacqua, who co-founded the popular street clothing brand LRG in 1999 and presided over its rapid rise as a major fashion force among young people, was found dead Tuesday. He was 34.

Orange County sheriff’s officials said Bevacqua’s body was found in his Laguna Beach home.

“There were no obvious signs of the cause of death,” sheriff’s spokesman Jim Amormino told The Associated Press. He added that the county coroner would conduct an autopsy Wednesday.

Deeply influenced by Southern California’s skateboard, surfing and hip hop culture, he and business partner Robert Wright began making clothes that reflected their interests but that no one else seemed to be providing.

“I grew up in a pretty unique environment and was exposed to a lot of different things,” he said in a 2009 interview with the Orange County Register. “I didn’t feel there was a clothing company to bridge the gap between all these different things that we were into – that spoke for that melting pot of what was going on. That’s what LRG was all about.”

The Fashion Reporter would like to express our deepest condolences and our thoughts and prayers are with Jonas’ family at this time.

Liz Taylor's most memorable gems: The 69.42 Taylor-Burton Diamond; Bulgari Diamond and Emerald Necklace; and Van Cleef & Arpels Daisy Necklace.

Christie’s auction house says it has reached an agreement with Elizabeth Taylor’s family to sell her prized jewelry collection, as well as some of her art, clothing and other memorabilia. The jewelry collection is valued at more than $150 million and is said to rival some royal households.

The dates of the auctions will be announced later this spring but guess who’ll be placing bids on the baubles?

Photo credit: Getty Images

None other that the fabulous Kimora Lee Simmons of course!  The designer and television personality is a huge fan and says she’s patterned her entire life using Liz’s as a blueprint. In fact, her jewelry was inspired by the late movie icon. She says, ”All my life I have said this, I’m so emotional about Liz Taylor. My whole life I have really patterned after Elizabeth. She’s always been my icon. If you think about it, I can explain it forever”.

The last time Kimora went to an auction, she bought up all of Gianni Versace’s old furniture, so we wonder how much she’ll end up spending this time around. We’ll definitely keep you posted.

Model Arizona Muse. Photo credit: Craig McDean

Get ready for FNO 2.0.

The third Fashion’s Night Out, to be held September 8, will include e-tailers, meaning you can participate in Vogue, the Council of Fashion Designers of America, NYC & Company, and the City of New York’s huge shopping event from the comfort of your own home. Why didn’t they think of that sooner?

Online retailers are now invited to create their own virtual events, selling limited edition merchandise, from $15-$50, to mark the night. So far, Polyvore has signed on to showcase different online stores and will enlist Vogue editors and celeb fashionistas to create their own looks to inspire potential FNO shoppers.

But that’s not all — shoppers eager to get into the sartorial spirit can purchase long-and short-sleeved t-shirts, baseball caps and tote bags at fashionsnightout.com.

Japan Fashion Week has unsurprisingly been canceled following the disastrous events in the country, Women’s Wear Daily reports. The event was supposed to take place March 21 to 25, but several brands had already called off their shows or postponed indefinitely. A statement posted on the Fashion Week website explains, “Due to the multiple concerns regarding current electricity shortages, unreliable transportation, and general safety concerns, the “Japan Fashion Week in Tokyo” that was scheduled to take place this week and next week has been cancelled… Regarding the contents of the collection, we also intend to make the collection available on the web as a means to not only provide more opportunities for business connections but also so that it may act as a source for information.”

CFDA president Diane von Furstenberg and executive director Steven Kolb alternatively took the Swarovski-encrusted podium at von Furstenberg’s studio in New York yesterday evening to announce the 2011 CFDA Awards nominees. Alexander Wang continued his strong awards streak with nominations in three categories; Mary-Kate and Ashley Olsen’s The Row was nominated for the first time in the Swarovski emerging Womenswear Design category; and Lady Gaga should be expected at the awards ceremony — which will be held June 6 at Lincoln Center’s Alice Tully Hall — she’s taking home this year’s Fashion Icon award, after, according to von Furstenberg, “overwhelmingly, all the votes [for the category]” went her way — “to someone who started a fashion revolution.”

The Swarovski emerging Award for Accessory Design, meanwhile, has four nominees this year because two nominees were tied in votes. And Marc Jacobs apparently emailed von Furstenberg after he found out he will be awarded the Lifetime Achievement award this year, she said: “He’s very happy, but he says it’s only a half lifetime award because he’s only halfway finished.”