Tom Ford at the TIFF premiere of A Single Man (Photo by Karon Liu)

• Canadian model Coco Rocha announced last week that she’s launching her own fashion line. No details yet, but her sketches include high-waisted skinny jeans, ankle-skimming pants, and a shirt, skirt and cape. We’re not impressed with the initial designs, but if her line comes out anything like Kate Moss for Topshop (we hope, coming to The Bay), we won’t complain. [Oh So Coco]

• SpongeBob SquarePants got a makeover courtesy of Karl Lagerfeld, who moulded the cartoon creature into a golden mini-Karl, complete with sunglasses, fingerless gloves, shirt and tie. The figurine fetched 1,000 euros at a World Wildlife Fund charity auction. Lagerfeld has already designed a teddy bear in his image, but fans shouldn’t wait for a Karl doll. The designer told W magazine, “Nothing scares me more than people with some doll collection. Frightening.” [WWD]

• Designer Erdem Moralioglu, creator of frocks lusted after the world over, is showing a selection of his favourite pieces at the esteemed Victoria and Albert Museum in London. Moralioglu, a Montrealer who attended Ryerson for fashion, left Canada for London halfway through his degree at Rye High. His spring/summer 2010 collection of floral patterned skirts and dresses has us wishing for summer even before Toronto’s first snowfall. [Vogue UK]

• Sean Diddy Combs went on the Home Shopping Network to hawk his cologne and other products from the Sean John universe. Diddy held court on a white couch swathed in a shaggy fur throw, flanked by a woman who, based on her haircut, we can only assume is a professional Kate Gosselin impersonator. The rap impresario fielded phone calls from excited fans and sold out of his wares in only 16 minutes. Diddy, don’t forget Biggie’s warning: mo’ money, mo’ problems. [The Cut]

• John Galliano, creative director of Christian Dior, unveiled his Christmas tree designed for the lobby of luxe London hotel Claridge’s on Tuesday, with a cocktail reception and display of 20 vintage Dior gowns. The tree, a 20-foot-tall papier mâché creation, forgoes tradition (in classic Galliano tradition) and offers a take on snow scenes with a tropical twist, complete with a leopard, parrot and dragonflies perched among the branches. Fashion designer Henry Holland attended the event and tweeted, “Dior party in a private room and there is more dead animals in here than people.” Dowagers in furs or not, the promise of free booze, a Galliano anything and vintage Dior couture make for one of the best invites of the season. [Telegraph]

• Louisiana alligator farmers, who produce most of the world’s supply of skins, say they’re facing tough times due to an unlikely suspect: French luxury goods retailer Hermès. Alligator skins are used in exclusive (and incredibly expensive) bags, watch straps and shoes. In order to get a viable gator, farmers take helicopters out to spot nests, head into the swamps and gather eggs, all while fending off angry mother alligators. These offspring are raised on farms and, once grown, their hides are sold to tanneries. The farmers claim Hermès, which began buying up tanneries in the 1990s, is aggressively buying hides and hoarding them, charging outrageous prices to other skin buyers. Sounds like Hermès is giving certain Americans more fire to throw on their anti-French ire. [New York Times]

• Lacroix’s expected bailout by Gulf investor Hassan bin Ali al-Nuaimi and France’s Bernard Krief Consulting has been derailed after the group failed to file papers providing financial guarantees on time. Lacroix, once owned by luxury powerhouse LVMH and now controlled by Florida-based Falic group, will undergo further restructuring in an attempt to pay back debts and save the company. Chief among the cutbacks are the decisions to reduce staff at the fashion house to 11 and to cease production on haute couture and ready-to-wear lines, opting to lease out the name rights instead. [Reuters]

• The iconic Hudson’s Bay blanket has been reworked by 10 Canadian clothing designers, including Jeremy Laing, Erdem, Smythe and Pink Tartan, who turned “flawed” blankets (those that weren’t sold due to imperfections) into creative coats. We loved the short, asymmetrical hemline and oversized hood on Smythe’s and the faux fox head atop a hooded Harricana coat. The creations are not for sale, but those dying for a piece of Canadiana can pick up our favourite new Bay item: Virginia Johnson’s cream scarves, printed with colourful elk, for $195. [Toronto Star]

• Tom Ford, former creative director of Gucci and now director of A Single Man, had an uncomfortable encounter with Jason Reitman at the Beverly Hills Hotel, when Reitman approached the Ford to express his love of the film. But when Ford asked Reitman if he was moved by a particular scene, Reitman wondered aloud if Ford was hitting on him. The awkwardness continued as Reitman went on to lecture Ford’s guest, who had intervened, about how movies are “not meant to be told that way,” even after Ford told him “you should go away now.” Sounds as though not all Canadians are humble. [New York Times]

• The Holt Renfrew pop-up shop at the Fashion House condo sales building on King West opened Wednesday. Available are winter classics, like Sorel boots, Canada Goose parkas, and plenty of plaid flannel. The collection builds on the androgyny theme so popular right now, with pieces that can be worn by men or women, though we can’t see many men being enticed by the multicoloured Theory sweaters or chunky turquoise bracelets. [Fashion]