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Gisele to Step Off the Runway, The Olsen Twins are Up For a Top Award and More

All the news you need to know.

Gisele to Step Off the Runway, The Olsen Twins are Up For a Top Awards and More
Source: Getty Images

Fashion's First Place
The CFDA nominees were announced last night and the Olsen's decade-old line, The Row, is up for the top prize of Womenswear Designer of the Year. Even with Marc Jacobs as competition, we think they have a solid chance to win. (You got it, dude!)  [WWD]

Gisele at the End of the Runway
Outlets are reporting that Gisele Bundchen plans to end her illustrious catwalk career at Sao Paulo Fashion Week next month. Don't fret—this is just the end of the runway (portion). [Telegraph]

Costly Chanel
With world economies in flux, retailers are doing their best to stabilize. Even with their best efforts, the balance can shift abruptly. Currently a Chanel handbag is double the price in China. To make up for this discrepancy, the French label plans to raise prices in Europe to lower the costs in Asia. If you've been eyeing a purse in Europe, scoop it up ASAP. [Fashionista]

Street Style: Iceland?
Forget New York, London, Milan and Paris—the edgiest street style shots we've seen this season have come straight out of Reykjavik. [Style.com]

Fashion Police Taking a Break

With the sudden departure of Kelly Osbourne and Kathy Griffin, the show has been put on hiatus until September. Hopefully a little breather helps the producers figure out how to save the controversial broadcast. [SHEfinds]