DONATELLA TIME: The Baselworld Watch Fair is on, and on Thursday Donatella Versace paid a quick visit to unveil her new style. But this is Donatella, so it isn't just any watch. The made-to-order gold style costs 140,000 euros, or $226,800 at current exchange, and is covered in diamonds. Three already have been sold. "Women don't really need a watch to tell time today — they have their cell phones and BlackBerrys," Versace said. "This is a jewelry watch."

HEY JUDE: Jude Law is to be the face of a new men's fragrance for Parfums Christian Dior worldwide save for the U.S. and U.K., according to industry sources. (In the U.S. and U.K., it is believed a male model will replace him in the scent's advertising.) Dior executives could not be reached for comment. Law would be the latest in a spate of male celebrities fronting fragrance and other luxury products for LVMH Moët Hennessy Louis Vuitton, Parfum Dior's parent. Most recently, Justin Timberlake inked a deal with Parfums Givenchy.

NEW ARRIVAL: On Wednesday night, a crowd of self-described "hipster misfits" filled Beatrice Inn to celebrate the official opening of Cry Wolf, an East Village boutique owned by husband-and-wife team Abiri Ward and Nina Wolff. "At first Abiri wanted to open a shoe store," said Nina Wolff, "but then I suggested adding some accessories, a few dresses and some separates. So we decided to just go for broke." Situated on St. Marks Place between First Avenue and Avenue A, the store carries brands such as Buddhist Punk, Morphine Generation and Corpus Christi "for anyone who 'gets it,'" the owners said, the interior — which Wolff designed herself — and the clothes are definitely geared toward the eclectic neighborhood's creative residents.