Contents

30 COVER: WOMEN IN FASHION The power list. TIME looks at the 10 most powerful women in fashion and beauty and how they influence what we buy and wear. Plus, 10 up-and-comers who are making their mark behind the scenes

10 Right This Minute Mighty Midas: inspired by newfound optimism, designers are dipping into gold again

13 Notebook The preppy handbook: menswear news from Milan. Plus, the A list, frescoes in Florence, Roger Vivier shoes and Japanese architect Kazuyo Sejima

20 Icon Louis Vuitton

22 10 Questions Donatella Versace

24 All Access Three style mavens reveal their daily routines

26 Back in Bloom Floral prints are back, and so is Gisele Bundchen

42 Paris in Springtime with Nicky The Hilton sisters get a major makeover, starting with the season's ladylike new looks

48 Inside the H&M Fashion Machine Who needs high price tags when disposable chic is the name of the game?

52 Who Will Be the Next Domestic Diva? With Martha Stewart mired in legal troubles, a cadre of successors is poised to take her place

56 Working It Even in the world of fashion, Joel Stein finds having a muse on the payroll extravagant

ON THE COVER: Gisele Bundchen wears a Prada bikini and Marc Jacobs shoes. Photographed for TIME by Raul Martinez. Styled by Ricky Vider Rivers. Hair by Jimmy Paul for Bumble and Bumble. Makeup by Peter Philips. Manicure by Deborah Lippmann for Lippmanncollection.com Set design by Mary Howard