Vanessa Paradis Fetes Chanel Rouge Coco Lipstick

If there's one Chanel item that's within every woman's budget, it's lipstick. And last night, the new Chanel Rouge Coco lip color collection launched with a celeb-studded event in New York City. The lipstick is billed as "a modern interpretation of classic creme lip color," and "an homage to the rich life and legacy of Coco Chanel," who, by the way, introduced her first lipstick in 1924.