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To wrap up this week, we decided to sift through the news and share what we are excited for, what we are sad about and what we just don't understand. Here is this week's The Good, The Bad and The Ugly:

The Good: Karl Lagerfeld made headlines when he announced he was doing a second fast fashion collaboration (his first was with H&M in 2004). We were pleasantly surprised by his upcoming fall collection for Macy's: cheap, chic and it even has Cathy Horyn's stamp of approval. We're sold.

The Bad: The Alexander McQueen exhibit, "Savage Beauty" at The Metropolitan Museum of Art was extended until August 7th. Haven't seen it already? Don't bother. The line is so long anyone who enters the museum has to wait an hour even if they aren't seeing the exhibit. Too bad.

The Ugly: Kate Bosworth always looks chic. We love her Isabel Marant booties. What we are not loving? Her new dip dyed do. Or should I say "don't." So ugly.

Catch up on fashionn news with our previous columns:
July 22 | Fashion Memoirs, A New SATC and Marc Jacobs' Muse
July 22 | Vogue Online, Pamela Anderson's "Couture" and Robert Pattinson's Hair
July 15 | Nails at Sephora, Halston's Break Up and Helmut Lang's Destruction
July 8 | The Row's new bags, Tom Ford vs. Fat People and Christian Dior