One Direction reportedly has signed on to perform at the annual Victoria's Secret Fashion Show in November. [Sun]
[Updated, 10:50 a.m. Aug. 27: Oops. No they're not. Although the Sun and a number of other media outlets reported that a deal had been cut, Victoria's Secret released a statement Tuesday saying, "The recent reports regarding One Direction appearing in the Victoria's Secret Fashion Show are untrue. The band is not performing in this year's show. We will announce our artists in early October."]
Fashion stylist Michael Raphael is suing former client Drake, TMZ reports, claiming the rapper owes him $76,400 in unpaid shopping bills. [TMZ]
Rebecca Taylor announced a new Black Tie Collection of women's gowns and cocktail dresses on Monday. According to a news release, the line will be available in Rebecca Taylor stores, Neiman Marcus, Saks Fifth Avenue, Saks.com, Bloomingdales.com, Shopbop.com and other specialty stores. Prices range from $495 to $1,600.
J.C. Penney's largest investor, William Ackman of Pershing Square Capital Management, is selling his nearly 18% stake in the company, which amounts to 39.1 million shares. [Los Angeles Times]