PARTING GIFTS: Whoever wins the Academy Award for Best Actress on Sunday night will take home more than just a golden statuette. The victor will also receive a cosmetic compact — valued at a whopping $9,050. Called the “Courage Compact,” the big-ticket accessory was designed by New York based-jeweler Carelle and features a cover that is studded with rhodolite and amethyst stones, as well as pavé diamonds. “I always felt that diamonds show what a woman is worth, but color shows who a woman is,” said Carelle founder Chana Regev of the bauble, which was commissioned by L’Oréal Paris.

Best actress nominees at the Golden Globes and Screen Actors Guild awards already received at least one compact from the limited edition line, but that gift was valued at $4,000. More items from the bedazzled collection will be up for grabs on eBay through March 1. Proceeds will benefit the Ovarian Cancer Research Fund.

This story first appeared in the February 20, 2009 issue of WWD.  Subscribe Today.

TIME TO PARTY: Even the rain couldn’t stop socials and watch fans from marking the opening of the new Morellato store in Midtown. The festivities were in honor of Save Venice, a cause Morellato & Sector chief executive officer Massimo Carraro knows all too well. “I’m from Venice, so of course I am going to want to participate in any way I can to help,” he said. “It is a magical, romantic place and jewel of Italy.” Other guests included Mena Suvari, John Demsey, Olympic swimming medalist Ryan Lochte and Adelina Wong Ettelson, who rubbed elbows with hosts Olivia Chantecaille and Alexandra Lind Rose.

WHITE HOUSE AUDIENCE: Kai Milla isn’t exactly hiding her desire to create some clothes for First Lady Michelle Obama. It appears the fashion designer, who showed her Modernity collection Thursday at The London NYC, could be moving a step closer to fulfilling her wish, with the prospect of a dinner conversation with Obama next week. Milla will be traveling to the nation’s capital Saturday to join husband Stevie Wonder, who is receiving the Library of Congress’s second Gershwin Prize for Popular Song from President Obama. “Michelle Obama is a fan; she’s spoken with Kai,” a Kai Milla spokeswoman said of their past contact. The Gershwin Prize ceremony on Feb. 25 will be held in the East Room of the White House, in celebration of Black History Month. It will be preceded by a dinner at the White House, Milla noted. “I called Stevie to congratulate him and he said, ‘It’s your day, sweetie. My day isn’t until [next week],’” she related.

At Gordon Ramsay’s London NYC, where Milla’s informal shows were staged in a 50th floor suite, camera crews from Lifetime were shooting the events of the day for a one-hour, reality show that could be broadcast this fall on the cable network. As Milla is in favor of a reality TV program about how she works, she figured fashion week was a good place to start.

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