Fashion Roundup: Michelle Obama’s Victory Speech Dress; Alexander McQueen Targeted; Elle MacPherson Sells More Bras

Last night, Michelle Obama wore a Narciso Rodriguez dress from the designer’s spring 2009 collection. While many blogs have posted negative reviews of the dress, the Los Angeles Times deemed it a “symbolism of patriotic red bursting out of black like a firecracker out of the night sky.” [LA Times

Alexander McQueen has confirmed that he will design a line for Target. [Vogue UK

Elle MacPherson‘s lingerie line is doing better in a volatile market than it has…ever. Perhaps Bonnie Fuller knew what she was talking about when she predicted that lingerie sales would rise because people are staying home and having more sex during recession. [Vogue UK]

Rogan Gregory will collaborate on a jewelry line with Brooklyn-based jewelry label Lady Grey Jewelry. [FWD]

Jean-Paul Gaultier will reportedly tap the chairman of Hermès Parfums’ supervisory board and managing director of leather goods at Hermes, Veronique Gautier, as the new president of his label. [WWD