5 Things To Know This AM — Mar 22 2011

Hedi Slimane: "Red carpet dressing is an ongoing tragedy of cheap fashion on cheap celebrities" Tell us how you really feel, Hedi. (WWD)
Fashion Night Out is Anna Wintour's version of a New York holiday, created from scratch. As if we need further proof of Anna Wintour's influence. (Canadian Press)
The slip of a sheer dress Kate Middleton modeled as a student (and what reportedly caught Prince William's eye) has sold for $125,000. Hey, if it bags you a prince... (Yahoo News)
That "ethical" fur on your back? It might just come from cats and dogs. (Daily Mail UK)
Spanx is really just a girdle with a naughty, naughty name. (Jezebel)
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