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Your morning fashion and beauty report: Russell Simmons goes from Phat to preppy. Michelle Obama, Katie Couric look lovely in red. Taylor Swift signs on with ‘Cover Girl’

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We told you preppy was back! Now even rap mogul Russell Simmons, whose Phat Farm label made a fortune with baggy jeans and sweat shirts, is reaching for the skinny in his closet. [Wall Street Journal]

The color of the evening was red for this past weekend’s White House Correspondents’ Assn. Dinner, with First Lady Michelle Obama leading the way in a gown by Prabal Gurung. Also wearing red: Katie Couric, Kathie Lee Gifford, Mariska Hargitay and Gayle King. [Huffington Post]

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Hermes patriarch Jean-Louis Dumas dies in Paris at age 72. [Wall Street Journal]

Get a preview of who will be wearing what at the glitzy Met gala. [Vogue]

Style expert Charla Krupp shares fashion tricks that can make you look thinner. [InStyle]

Zandra Rhodes talks about how fashion’s role models are failing our children. [Telegraph]

Taylor Swift has signed on to be Cover Girl’s latest cover girl. [wwd, subscription required]

Britney Spears tweets that she’s designed a capsule collection for Candie’s. [Twitter]

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J. Crew shows off its spring line against the tropical paradise of the Turks and Caicos. [FabSugar]

Keep your sense of humor with 10 things to know when you’re planning a wedding -- or not! [Guardian]

See how the ‘Glee’ girls styles compare in character and in person. [BellaSugar]

-- Susan Denley

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