While Anna Wintour has been at work making her magazine “recession-friendly,” the international Vogue editions have been heading in an artsier direction lately with innovative collaborations and special editions all around. Now, Vogue Australia has also decided to do something a bit different. For its 50th anniversary, the magazine is putting out a commemorative issue (September 2009) featuring the work of famous fashion and celeb illustrator, David Downton. In four separate covers, Downton sketched Cate Blanchett in vintage styles that recall the days before photography. It’s a great reminder of the history behind the magazine, as well as fashion’s journey through the years. Vogue Australia also seems to have a solid marketing strategy: While the issue will be sold in a gold box as a limited edition, the price is a mere 12.95 Australian dollars, which is about 11 USD. That’s recession-friendly and chic. [WWD]

The Cannes Film Festival photos have been slowly trickling in—the photographers must be on French time—and the ladies that were in attendance really brought out the big fashion guns. After the jump, some of our very favorites.

Cate Blanchett had her third son over the weekend, who she and her husband named Ignatius. He sounds smart. [News.com.au]

Gerard Butler has, uh, vehemently denied that he’s dating Cameron Diaz. FYI, he also wants everyone to know he’s not boinking his dog either. [Perez Hilton]

Rachel Bilson is adorable in her “H” necklace (for boyfriend Hayden Christensen) and her green wayfarers. [Just Jared]