DesignerWire

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At their annual gala tonight, The Phillips Collection honors designer Reed Krakoff for his contributions to American fashion and art. And even if you aren't going to the gala, you can bid online on a one-of-a-kind bag designed by Krakoff, each inspired by American artists like Alexander Calder and Josef Albers. What Do I Wear has more details about the Phillips Collection's auction. [What Do I Wear]