The Wednesday Fashion Files!!!

Diane von Furstenberg's new perfume, Michelle Obama in Tom Ford, DIY Louboutins made by a 15 year old, Kim Kardashian's new 20.5 diamond bling, Anthropologie vs. Worishofer; Elle Fanning in Teen Vogue; a bag that proclaims how much you (or maybe just we) love James Franco and so much more in today's Fashion File!

1. Diane von Furstenberg Launches a new fragrance for women called "Diane." It'll be available this October and sold exclusively at Sephora, Bloomingdale's and Nordstrom. [Fashionfoiegras]

2. Michelle Obama wore a Tom Ford cream gown to the state banquet at Buckingham Palace last night. She looked absolutely gorgeous. [WWD]

3. Fendi will have fur pieces in it show for its fall collection on June 2nd in Seoul, South Korea.  [independentUK]

4. Christian Louboutin is going to hate this. Rosso Solinis (15) created a DIY stick-on colored soles that run for about $10. Which is the most popular? RED. Obviously. [cocoperez]

5. Stylist, Charlotte Stockdale will replace Edward Enninful as fashion director at i-D. [fashionologie]

6. I smell a law suit! Anthropologies's Ramona Slides look alot like Worishofer's classic comfort sandal. What do you think? [Racked]

7. Elle Fanning is featured in her own beauty editorial in Teen Vogue sporting a bunch of braided looks.[stylecaster]

8. Kim Kardashian FINALLY gets engaged. Kris Humphries "unexpectedly" and romantically proposed to her with a 20.5 carat Lorraine Schwartz diamond ring. [People]

9. Erin Wasson collaborates with Zadig & Voltaire for a capsule collection of 15 pieces which will be sold exclusively at Net-a-Porter before hitting store worldwide. [WWD]

10. 50 years later, Audrey Hepburn's Breakfast at Tiffany's character Holly Golightly has the most requested hairstyle in British Salons. [stylecaster]

11. Lady Gaga lands ANOTHER Rolling Stones cover except there's something missing? OH yeah! Her eyebrows. [TheFrisky]

12. Do you love James Franco? Well then you should totally buy this tote! [DNAtheshop]