The stock market's wild ride over the last decade may have captured the headlines, but the fashion world saw plenty of ups and downs that could rival any bull market. There was fast fashion at H&M and Zara, not-so-model supermodel behavior from Ms. Moss, and even a First Lady with a dream closet. Of course, we can't forget the glut of celebrity-designed fashion labels, the rise of the Olsen Twins as hobo-chic style icons and the sentimental departures of such industry stalwarts as Yves Saint Laurent and Valentino.

As we look back on the last 10 years, there's one thing that can't be argued: The fashion world knows how to have fun. Here's to another decade of innovative undergarments, couture-inspired television shows and powerful personalities.

Check out our gallery below to see fashion's wildest scandals and proudest moments of the decade.