Fashion news: Tom Pecheux named Estée Lauder creative director, Daisy Lowe joins Louis Vuitton, and Megha Mittal buys Escada

We’re all atwitter with excitement (literally, we tweeted about it) that Estée Lauder has brought on runway makeup heavyweight Tom Pecheux as its new creative director. This means we can expect to see the line being used backstage at high-profile international shows, and we can’t wait to see how he’ll infuse his Parisian cool into the all-American—and, let’s be honest, coveted by our grandmothers—brand. His first collection hits counters next spring. [WWD]

Thirty-three-year-old Megha Mittal has beat out Sean Ley in the bidding war to buy Escada. The daughter of the chief executive of the largest steel company in the world, Mittal has been looking to invest in a major fashion house for over a year. She will keep CEO Bruno Saelzer on, and plans for Escada to become an affordable-luxury label offering more ready-to-wear pieces. [The Cut]

Ethical clothing designer Carmen Colle, 61, is suing Chanel over a crochet pattern she alleges was copied. Colle, whose clients also include Christian Dior and Givenchy, claims her own tailors designed the sample and is suing for £2.2 million and damages over breach of contract and counterfeit. [Guardian]

Michael Kors faced his fear of heights recently when he vacationed in Utah. Kors took a hot-air-balloon ride despite his bouts of vertigo—apparently at one point he chose to kneel in the basket, but made it through unscathed. [WWD]

Rockstar offspring Daisy Lowe, daughter of Gavin Rossdale, will join Lara Stone as a new representative for Louis Vuitton. Lowe will give the luxury brand a hit of Brit-girl cool when she appears in a press kit modelling a new line of beachwear for the brand including ready-to-wear, shoes and accessories set to hit stores in April 2010. [Grazia]

Lara Stone has admitted to British Vogue that she spent four weeks in rehab for alcoholism this year. The (relatively) curvy Dutch model, 25, says she attended the champagne-soaked Met Ball with Alexander Wang a week after she finished her program. [Fashionologie]

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