>> One of sure to be many fashion figures wearing Alexander McQueen to Monday's Costume Institute Gala? Daphne Guinness, who plans to dress herself for the event — in a feathery McQueen gown — in one of the windows of Barneys' Manhattan flagship, starting at 5 p.m. on May 2. The stunt — which was Guinness's idea — is not in any way a peep show, she says: “I am not doing a burlesque — no way. I’m going to be getting dressed behind something. I’m not Dita Von Teese, nor shall I be.” Instead, she likes the idea because “there’s been this discussion for longer than I’ve been alive that fashion is not art,” Guinness explains. “My feeling is that this is another piece of evidence that, yes, there is a commercial side to fashion that is needed, but there are these crossover moments that do become art. I hope it works, and I don’t faint.” [NY Times]

>> Halston, which was acquired by Hilco Consumer Capital and Harvey Weinstein's The Weinstein Company in 2007, is said to be looking for some more funds these days. According to a source familiar with the situation, WWD reports, the brand has hired an investment bank to explore its options, which could range from a cash infusion to a sale of the whole company.

The contemporary Halston Heritage label, of which Sarah Jessica Parker is president and chief creative officer, has been gaining traction since its launch a year ago. It “was definitely a viable business,” says the source, but the company needs more growth capital and the investors don't want to put more money in after four years. It could be tough to do a deal, however, the source warns: “It’s a very complicated structure and dynamic at the board level."

Richard Kaye, EVP and chief marketing officer at Hilco Trading, Hilco Consumer Capital's parent company, had no comment on any future plans for Halston.

>> Karl Lagerfeld, who captured Pirelli's 2011 calendar, is rumored to be succeeded by Steven Meisel for the 2012 edition. (Each year a different photographer nabs the gig — Terry Richardson, Peter Beard, and Patrick Demarchelier snapped the 2010, 2009, and 2008 editions, respectively.) No word on location for the shoot, but Anna Selezneva is said to be among the cast, and the finished product will likely debut at the end of November or beginning of December. [Model Whispers]

UPDATE: The calendar's casting director, Jennifer Starr, just confirmed that Mario Sorrenti, not Meisel, will be shooting the 2012 calendar. [Stylecaster]

>> In February, Kate Moss spent five days in both Rio de Janeiro and Sao Paulo with Mario Testino, shooting for Vogue Brazil's hefty 36th anniversary edition. "We worked the whole time," she told Vogue UK right after the trip. "We shot 60 pages for the magazine. It was a lot. I had Lila with me and I thought it would be more of a holiday, Mario usually finishes quite early, but not this time."

Testino captured her opposite Brazilian symbols of his choice — including architect Oscar Niemeyer, soccer star Pele, actors Rodrigo Santoro and Marcio Garcia, and model Mayana Moura. One location of choice was Rio's Copacabana Palace, where Testino had Moss posing in the hotel's spa and kitchen during working hours. The 508-page edition, which features Moss nude on the cover, hits newsstands May 2.

>> W fashion and style director Alex White, one of the last vestiges of the old guard at the magazine, is to be replaced by Edward Enninful, effective May 1. White, who held the position for 16 years, decided to step down to pursue a range of fashion and lifestyle projects in both digital and social media.

According to W editor Stefano Tonchi, the decision for White to leave was mutual: “Alex is a fantastic stylist and has done incredible work over the years. Everyone at W is grateful to Alex for creating such memorable fashion portfolios, and for the significant mark she has left on the magazine . . . She’s thinking very much about her own brand — the Alex White brand — and at a certain point that’s no longer what W is about.”

White agreed that they were "totally on the same page": “My 16 years at W have been thrilling. I’ve worked with wildly talented people and helped produce a gorgeous magazine. I was delighted to stay and help Stefano through his first, transitional year, and am looking forward new beginnings . . . I helped with getting over the hump. Now it’s time for me to continue my freelance and explore the other things I’m working on, including digital projects." Tonchi indicated that White is thinking about starting her own magazine, possibly online. White had recently been experimenting with her own column online, Alex White Edits, on W's website.

Tonchi and Enninful, meanwhile, hit it off while seated next to each other at a Balenciaga dinner during Paris Fashion Week a couple of months ago, Tonchi says: “I didn’t really think about hiring him, I just thought he was incredibly joyful.” They began discussing a job at W earlier this month and moved quickly from there.

"This is the beginning of a new era at W, and I couldn’t be more delighted to be a part of it,” said Enninful. And Tonchi added: "I'm thrilled that Edward is joining our team, and am confident that he will bring a great deal of creativity, professionalism, and industry knowledge with him."

Enninful, who has been a contributing fashion editor at Vogue since 2005 and at Vogue Italia since 1998, is ending those engagements. “Now I’m going to be focusing my editorial prowess on W,” he explained. “Whenever a relationship ends it’s very sad."