The Biz: 2011 Starts With A Bang

Fireworks & ticker-tape mark New Years Celebrations in London

Think luxury brands have mastered the art of social networking? Think again – Forbes reports on why some of the biggest still don’t “get” the landmark website and its power. | Forbes

Get to know the creations of China’s most innovative couturier, Guo Pei. Her ornate creations are already favorites of Nicola Formichetti and Li Bingbing | NY Times

2011 ushers in the debut of Christophe Lemaire at Hermes, what will that bring the house? WWD asks the big questions. “My inspirations are Oriental and Western,” he said. “I can’t talk too much about Hermès, because for the time being nothing is concrete. I will feel more comfortable talking about it when I actually have something to show, but what is clear is that Hermès is all about this idea of traveling — traveling in space and time. It immediately conjures a nomadic spirit.” | WWD

Celebrities are always on magazine covers, but who actually sells copies. Turns out Lady Gaga and Rihanna bring in the best numbers, while Taylor Swift and Blake Lively don’t | WWD