It's official!

Diane von Furstenberg is the new president. Well, at least she's the new president of the Council of Fashion Designers of America. After months of speculation coming from everyone (Anna Wintour, editor of Vogue magazine to the guy who cuts my hair), Ms. von Furstenberg beat out her competition, Joseph Abboud, to become the American fashion industry's most important figurehead.

Many of you know von Furstenberg through her wrap-dress fame (you should read Sarah's post on the incredible DVF Bluefly deal), as well as her notable relationship with pop artist Andy Warhol. In addition to hosting the Annual CFDA Fashion Awards, Diane's leadership of the trade association will require her to speaks out on a variety of industry-related issues. First on this year's agenda? Can designs be protected by copyright law?

We wish you the best of luck, Diane. But please, just don't take away our fake Marc Jacobs bags...