Magic at CFDA/Vogue

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Last night Emma Stone announced the big winner of the CFDA/Vogue Fashion Fund: The Elder Statesman. Precluding this momentous victory for the up-and-coming brand was a keynote by Burberry's Christopher Bailey. In his speech, he told the story of how Donna Karan stripped naked for him and Tom Ford sat in a huge dark room (waiting for Bailey) with his shirt unbuttoned down to his navel with a very large gold belt. [Racked]