>> The family-owned house Sonia Rykiel may be selling a minority stake in order to speed up its expansion, its president Nathalie Rykiel confirmed. Rykiel has hired Edmond de Rothschild Corporate Finance to explore the possibility.

“I have not taken any decision,” Rykiel noted. “I have only just started analyzing the possibility. I don’t know if it’s something I want to pursue, but I want to develop the brand. It has huge potential, in Asia obviously, but elsewhere also." She added that the brand is capable of continuing development without any outside partners: “I know that I can go much faster and further with outside help, but I am not even at the stage of contemplating whether the partner should be French or international."

Sonia Rykiel posted sales of 89.6 million euros ($118.9 million) in 2010, which were roughly flat compared to the company's 2009 sales, Rykiel said.

>> On Saturday, 18-year-old Karlie Kloss and 21-year-old Joe Jonas were spotted watching Prince William play a charity polo math at the Santa Barbara Polo & Racquet Club together, prompting dating rumors. Although the two arrived at the event separately, they posed for photo booth pictures together, attended a luncheon, and were later spotted "chatting it up in the stands" — Celebuzz has candid pictures. [People, Us]

>> Camilla Al Fayed, the 26-year-old daughter of former Harrods owner Mohamed Al Fayed (and half sister to Princess Diana's boyfriend at the time of her death), has bought a 51 percent controlling stake in Issa. The London fashion label made headlines worldwide last year when Kate Middleton revealed her engagement in an Issa dress, and Middleton continues to wear pieces designed by Daniella Helayel, who founded and funded the company until now.

Al Fayed will take the title of chairwoman and plans to oversee global expansion of the brand, while Helayel, who continues to hold a 49 percent stake in the label, will remain as creative director. “The investment will help to grow the business and take it to the next level,” said Helayel. “I looked at a lot of investors, and Camilla came with the best fit. She has the infrastructure behind her, she’s well connected, and she will open a lot of doors.”

Al Fayed, for her part, noted that this could be the first of a series of investments, adding: “I believe in Daniella’s creativity; she is a friend; I admire her passion and drive, and I see potential in making Issa a global lifestyle brand.”

>> Megan Fox, who replaced Victoria Beckham as the face of Emporio Armani Underwear and Armani Jeans in October 2009, is now stepping aside to make way for new Armani face Rihanna, who was spotted meeting with Roberta Armani in Milan in May. The singer's first campaign was shot on location in New York and is set to launch worldwide in September; expect to see her wearing Armani more often on the red carpet, as well.

>> Emily Current and Meritt Elliott of Current/Elliott — who collaborated with Joseph Altuzarra on his Fall 2011 collection — will team up with Kate Spade this August to launch a six-style handbag capsule collection. Retailing between $245 and $1,295, the Westward by Emily and Meritt for Kate Spade New York collection aims to capture a free-spirited, West Coast vibe. "This collaboration really was about our girl stepping out of her normal comfort zone and hitting the road," Kate Spade’s president and creative director, Deborah Lloyd explained.