Is there something in the water in Hollywood? First Rihanna and now Avril Lavigne has shaved half her head in a new hairstyle reminiscent of a punky glam rocker. She kept the color and length on the other side of her head in the same style. She isn't the only one revamping her look. Charlize Theron has shaved her blond locks for her upcoming movie role in Mad Max: Fury Road. She’s been wearing a beanie or Fedora to cover it up ever since. (Huffington Post)

Karl Lagerfeld is always known for making headlines in fashion, least of which is for his iconic black and white tuxedo look and low ponytail. So it’s no surprise Germany’s St. Pauli Panopticon has opted to preserve the legendary Chanel designer--in wax! The figure features Lagerfeld’s iconic dark sunglasses and black studded gloves. (People)

This isn’t Lagerfeld’s only headline this week. He’s also making headlines for a book of photographs based on Chanel’s Little Black Jacket. The fashion tome is made up of 113 photographs shot by Lagerfeld of models, celebrities, socialites, fashionistas, and personalities styled in the LBJ by former French Vogue Editor-In-Chief Carine Roitfeld. Chanel threw a party to celebrate an exhibit featuring the photos on display from June 8 to June 15. (Harper’s Bazaar)

Maison Martin Margiela is the next high fashion brand to collaborate with H&M! Straight off the heels of the popular team ups with Lanvin, Versace, Roberto Cavalli, and Marni, the popular French has created a collection of timeless, streamlined and wearable pieces debuting on November 15. Will we see MMM fans Michelle Obama or Sarah Jessica Parker in one of these pieces? (Stylelite)

Stella McCartney travels around the world to present her collections, turning up in both England and Paris on occasions. She took to New York to showcase her Resort 2013 presentation, throwing a sweet summer party in a garden for the occasion. Besides gorgeous clothes, the event attracted a bevy of beauties like Anne Hathaway, Amy Poehler and Solange Knowles. (Fabsugar)

Kim Kardashian is on the cover of New York Magazine’s Fall Fashion Issue! The Fall Issue is a special and important issue for fashion lovers, reporting on all the top upcoming trends. Some might be surprised to see this Kardashian, chosen as the face for fall fashion, but nothing is surprising anymore due to the star’s ever growing popularity. (E! Online)

Forbes releases their full list of the 25 Most Influential Chinese In Global Fashion. Among those who made the list is Peter Chan who chairs YGM, Jacky Xu who leads Trendy International, Eddie Chen and more. (Forbes)

One of the fashion highlights of London 2012’s Closing Ceremony was the unveiling of top British models including Naomi Campbell, Kate Moss, Georgia May Jagger, Karen Elson, Stella Tennant, Lily Cole, Lily Donaldson, Jourdan Dunn and David Gandy to the sound of David Bowie’s song ‘Fashion’. Who’s your favorite?

Still the reigning champion of all water sports, Michael Phelps will not stay behind Ryan Lochte, even if it means dipping in the fashion industry. The Olympic winner is the star for Louis Vuitton’s latest campaign, photographed by Annie Leibovitz, who is the same photographer that previously shot Lochte and Serena Williams. (Styliete)

Legendary Cosmopolitan editor, Helen Gurley Brown, dies at 90. A pioneer in the fashion industry, Brown was the Editor-In-Chief for Cosmo from 1965 to 1997 and remained at Hearst as the International Editor until her death. Famous for her courageous and unique style, take a look at some of her memorable appearances in front of the camera. (Fashionista)

Closing our list of fashion highlights for this week, Katy Perry and John Mayer have been named “Hollywood’s hot new couple” after being spotted several times together in the last couple of weeks. Perry has previously been rumored to have a crush on the womanizing singer for a long time now. We wish them lots of luck!