Fashion Update: Karan's a-coming

NEW YORK CITY woman Donna Karan is coming to London. She's to open her European flagship in Bond Street, a site that was formerly occupied by Gucci. It's 12,300 square feet and Donna's paying pounds 525,000 to rent it.

Calvin Klein, fellow American designer, who also wants to open a shop in London, is still looking for

a site.