Johnny Depp has finally been bestowed the award we’ve all been waiting for. The CFDA (Council of Fashion Designers of America) granted the prolific star a Fashion Icon Award. This is the first time that a man has ever received this award. (New York Magazine)

Fashion extraordinaire Karl Lagerfeld is well renowned for shocking declarations throughout his career. Fashionista.com has compiled a tribute to the designer’s best quotes of all time; including "Normal people think I’m insane". (Fashionista)

Do you think Glenn Close is a fashion icon? Stylelist.com has put together a 73-photo gallery looking back on the Golden Globe winner’s fashion evolution dating back to 1996. The Damages star has also celebrated her 65th birthday this week, proving that beauty and style definitely comes with age. (Stylelist)

Following in the footsteps of other singing superstars such as Kanye West, Rihanna has stated that she will be launching a fashion line of her own. To those of you who have been keeping up with Rihanna these past few months, this may not come as a shock, after frequently spotting Rihanna at several major shows this season and hearing the buzz surrounding her upcoming fashion related TV show. (Billboard)

Meghan McCain, daughter of U.S. Senator John McCain poses for Playboy. The 27-year-old left nothing under-covers in her revealing interview for Playboy’s April issue. She discusses everything from her love life, to her sexual preferences, and ultimately to her affection of politics. (New York Daily News)

Closing our list of fashion highlights for the week, ABC News explains how swimsuit model Simone Farrow, once named the “sexiest woman in the world,” allegedly ran an international drug ring from her Hollywood apartment.

Good-lookin dudes star in Prada’s F/W menswear ad! Adrien Brody, Jamie Bell, Garrett Hedlund, Gary Oldman, and Willem Dafoe all walked on Miuccia Prada’s runway back in January and now the handsome-five will be photographed together for the new ad campaign. (Styleite)

The Council of Fashion Designers of America have awarded Johnny Depp with the Fashion Icon Award, this is the first time that a man has ever received this award. Why is Depp deserving of this honor? Maybe because he just doesn’t give a damn… (People)

Miss USA 2012 is Rhode Island’s Olivia Culpo! The 20-year-old brunette beauty is a cellist who aspires to be more like Hollywood icon Audrey Hepburn. Olivia beat out 50 other women the crown at the 61st annual Miss USA Pageant. (Huffington Post)

Another glamorous awards show that took place this week, was the MTV Movie Awards 2012 in sunny L.A. One of the biggest stars of the night was Kristen Stewart, who won the best-kiss award with Robert Pattinson for the fourth time-in-a-row (an all-time record). Stewart took the stage alone, clad in a stunning metallic dress, and demonstrated how to kiss… alone. (US Weekly)

Stewart was also recently photographed for the July cover of Vanity Fair, photographed in dramatic couture outfits as opposed to her previously criticized 'punky looks'.Watch the video from the shoot.

In honor of 50 years of the CFDA fashion awards, Fashionista.com has compiled the 50 best moments of the CFDA Awards. From Andy Warhol to Sarah Jessica Parker- take a look at the impressive slideshow. (Fashionista)

A lot of high-profile events have been going on this week, but in England no event is bigger than the Queen’s event. So closing our list for this week, is the celebration of the Diamond Jubilee of Queen Elizabeth II, marking the 60th anniversary of the accession of Queen Elizabeth II over the English throne. Kate Middleton, Grace Jones, Elton John and Paul Mccartney, were all there- see the royals for yourself:

It’s the end for the world’s most fashionable couple! CFDA fashion icon Johnny Depp and Chanel muse Vanessa Paradis have amicably separated after 14 years together and 2 children.

The pair, who have never married, have been living separate lives for months after moving to Los Angeles from France and haven’t appeared on a red carpet together in more than a year. Paradis, a French model, singer, and actress is currently in France promoting her movie Je Me Suis Fait Tout Petit. Depp was recently named the Council of Fashion Designers’ fashion icon for 2012 and received the Generation Award at the MTV Movie Awards this year. (People)

Emma Stone gets around! She recently appeared on the cover of New York magazine, where she talked about being flattered by comedian Jim Carrey’s creepy public crush. Stone is also making her debut on the cover of Vogue’s July issue with photos shot by fashion photographer Mario Testino. This cover comes just in time for the release of her Spider-Man movie with costar Andrew Garfield, who is now her boyfriend. Could this pair take Johnny Depp and Vanessa Paradis’s spot as “Most Fashionable Couple?” (Vogue)

Fashionista.com is asking if Sports Illustrated model Kate Upton is the world’s first social media supermodel. (We thought Coco Rocha had that title?) According to the blog, Upton has made strategic decisions on social media platforms like YouTube and Twitter, posing for controversial fashion photographer Terry Richardson in photos and videos that went viral. (Fashionista)

We’re not really sure why Alexa Chung is famous. She was the host of a now debunked MTV talk show and she shows up at all the major fashion shows. She also has a killer style. Whatever the case, the brands seem to love her--pushing her to appear in their ads. Her newest endeavor? A modern French brand named Maje that has tapped the British TV presenter to be the face of their Fall advertising campaign. She plays the part of “elegant yet edgy” 60s heroine for the shoot. (WWD)

Jennifer Hudson is a singer, actress, and role model for girls who want to shed pounds in a healthy fashion. Now, she’s also a fashion designer. The “American Idol” alum has put together a budget-friendly fashion line for QVC, which caters to average-size women from sizes 6 to 16. The line includes affordable dresses, leggings, skirts, and coats. She isn’t the first celeb to turn fashion designer for QVC. Nicole Richie, Heidi Klum, and even the Kardashians have come before her. (Stylelist)