LET FEATHERS FLY: Juicy Couture co-founders Pamela Skaist-Levy and Gela Nash-Taylor may be shelving their designer-priced Couture Couture label, but that doesn’t mean they are dumping the whole idea of another label. Given the economy, the two have decided to launch a not-so-high-end (but still priced about 30 percent higher than the Juicy Couture label) collection called Bird by Juicy Couture. It’s their hope the line of laid-back, but sophisticated items will become staples in the wardrobes of “the Juicy girl’s well-traveled sister,” Skaist-Levy noted. The Juicy team showed the collection to press on Thursday at the Bowery Hotel in New York, highlighting the cashmere cardigans, denim jeans, leather jackets and knit T-shirts and tanks in colors such as black, gray and baby pink. The collection consists of about 30 pieces which will launch for fall in select Juicy stores, Bergdorf Goodman, Net-a-porter, Harrods, Maxfield, Holt Renfrew and other specialty shops. Available for delivery five times a year, the collection will retail between $150 for a knit top to $600 for a coat. “This is the right line for us. It’s what we want to wear right now, at a price point for the world we are living in right now,” Nash-Taylor said.

This story first appeared in the April 24, 2009 issue of WWD. Subscribe Today.

DEJA VU?: PPR chief François-Henri Pinault and his wife, actress Salma Hayek, will be hosting an event in Venice this evening, confirmed Thursday a spokeswoman at Palazzo Grassi, the museum of contemporary art there owned by Pinault’s father, François Pinault. It is where the couple first met in 2006. But the spokeswoman couldn’t confirm the location of the happening and said she knows nothing about a possible wedding ceremony, which press reports say is to happen this weekend in Venice following a rehearsal dinner. If so, it will be the second nuptials the couple celebrate together. High-profile guests reportedly are to include actor Antonio Banderas and Melanie Griffith. Pinault and Hayek were first married in a ceremony in Paris last Valentine’s Day in what Hayek described as “just a tiny, private day.” They have a daughter together, Valentina Paloma Pinault. A PPR spokeswoman and Hayek’s publicist could not be reached for comment.

MORE ON MICHELLE: On Thursday, Elie Tahari got his chance to talk about Michelle Obama’s style on CNN’s “American Morning.” The segment focused on the First Lady as a fashion muse, which is something Tahari knows about. He just created the “Michelle” dress, naturally inspired by Obama. “I noticed when I saw her that she wears bare shoulders and she had great arms,” Tahari said on the show. “She has a great style, and what’s great about her is she is dressing like everybody else can dress.”

His “Michelle” dress exposes one shoulder, and will be available in a floral print for $598 this July, and a solid plum color for $498 in October. This wasn’t the only Tahari moment on television. The designer’s wife, Rory, was a guest judge on Bravo’s “Make Me a Supermodel” on Wednesday, where she turned down two aspiring models for the brand’s fall campaign. And Elie Tahari will be a judge on an upcoming episode of “The Fashion Show,” the new series on Bravo, which premieres May 7.

CHANEL TO CANNES: There will be a fashion finale at next month’s Cannes Film Festival, where Jan Kounen’s “Coco Chanel & Igor Stravinsky,” although not in competition, will be shown on the closing night. Based on Chanel’s love affair with Stravinsky in the Twenties, the cast includes Anna Mouglalis as Chanel and Mads Mikkelsen — who plays the bad guy in James Bond “Quantum of Solace” — as Stravinsky. The official competition lineup, unveiled Thursday, also includes Quentin Tarantino’s much anticipated war movie “Inglourious Basterds,” which counts Brad Pitt, Samuel L. Jackson, Mike Myers and Diane Kruger among its cast.

SAVED BY THE BELL: It’s been suspected for quite some time that the stock market is directly linked to hemlines. The two will get some face time on Tuesday when Liz Claiborne Inc. chief executive officer William McComb and Liz Claiborne New York creative director Isaac Mizrahi are scheduled to ring the closing bell at the New York Stock Exchange. The event will be followed by a fashion first: After the bell has rung, a fashion show will take place on the trading floor for the first time, with models in looks from Mizrahi’s collection for Liz Claiborne.

BRITAIN’S GOT TALENT: This Saturday, Liberty will be holding an open call for British designers eager to show off their wares — and the event is already oversubscribed. It’s Liberty’s first open call — in recent history at least — and the store was forced to shut down its registration list when the number of designers reached the 700 mark. The project is being spearheaded by Liberty’s buying director Ed Burstell. “Our customers are telling us they want brands that are not overly commercial — or overly distributed,” said Burstell, adding that Liberty will assess products from designers in a variety of fields and will eventually stock the best ones.

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