GIANNI'S PLACE: There were Sly and Elton and more supermodels than there are stars in the skies at Gianni Versace's palazzo Tuesday night, when he hosted a small dinner (70 people) to celebrate his new collection. The most-coveted guest, however, was Andrea Monti, the editor of Panorama, the mass-circulation Italian magazine that is planning a fashion issue. He sat between Helena Christensen and Nadja Auermann, and the bet is that one of them is going to end up on the cover. For dessert, Gianni led the guests upstairs to his studio, which had been converted to a disco for the night, complete with a three-man rap group imported from New York.

WORKING THE ROOM: It's trench warfare among the American fashion magazines for those all-important Italian ad pages. The publishers of Harper's Bazaar, Vogue and other magazines are all over town, usually accompanied by an editor or two to give them legitimacy--not to mention entree. "I've been worked over, like I've never been worked over," said one major retailer after only one day in Milan. Conde Nast seems to have the upper hand, however. Not only is Giorgio Armani giving a party for its new president, Steven Florio, but the American ambassador in Paris, Pamela Harriman, is throwing a cocktail party for him next week. Let's hope Steve's editors return the favor--Pammi could use some good press.

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