SUMMER SCHOOL: Ready-to-wear designers are continuing their march on the couture. Loulou de la Falaise, who just launched a signature collection and Paris boutique last month, is readying her next collection for July 7-10, when buyers and press will be in town for winter couture. A spokesman said a full runway show is not planned, but looks will be presented on models. De la Falaise will join such couture-crashers as Yohji Yamamoto, Azzedine Alaïa and Rick Owens who, as reported, is expected to present his debut collection for fur house Revillon in July.

PHAT CASH: Hip-hop king and Phat Farm founder Russell Simmons is consistently looking into new business endeavors, but this time he’s looking to help the financially challenged. In a partnership with Visa, Simmons is offering a Visa debit card to anyone who cannot open a bank account. "There are more than 70 million Americans who do not have bank accounts for one reason or another," he said on Wednesday during his opening night address at Fairchild’s second annual Teens & Tweens Summit in Los Angeles. "This card allows these people to buy their kids books and other important things and it’s not attached to a bank account. They are only allowed to spend what they have. It helps these people out and is going to make me a lot of money."

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