This Week in Fashion rounds up the week's style news, store openings and closings, pop-up shops, sales and upcoming fashion and design events in Toronto. Find it here every Wednesday morning.

NEWS

On Monday, Lisa Tant took to her Twitter page to confirm rumours that she's leaving her 8.5 year-long role at FLARE magazine as editor-in-chief. Elle magazine's lifestyle editor Miranda Purves will be taking over Tant's position, and the latter will be moving forward as Hello! Canada's publisher. On a slightly unrelated note, Tant also leaked embargoed information about Lady Gaga's new perfume "Fame" via Twitter, receiving an unpleasant reply from Gaga herself.

For those diehard fans of Toronto street style, online magazine Perfecto released a video for the fifth issue, spotlighting the most fashionable girls in the city - plus a handful of dapper men. The video - shot and edited by J. T. Ivanov - is just over two minutes long, highly entertaining visually, and solid proof that impeccable style can be found in the city.

Found Riches is a relatively new iPhone app that aims to benefit both Toronto retailers and consumers. Once downloaded via iTunes, users can photograph items they see while shopping, spreading the word about great finds at local boutiques. In return for uploading these photos, participating stores - including Magwood, Bicyclette, and Oliver Spencer - will offer a discount on that item.

EVENTS/PARTIES

M5V Realty, Streetcar, and Design Republic present a pop-up shop this weekend with massive discounts on all designer furniture. Also, purchase a loft at The Carnaby to be designed by a Seven Haus Interior Design Consult and furnished by Design Republic - with $10,000 worth of furniture! Stop by June 23, from 11 am to 6 pm, and June 24, from noon to 5 pm at The Carnaby Presentation Centre (1230 Queen Street West).

Meet Youtube sensation and Lancome Video Makeup Artist Michelle Phan tomorrow at The Bay Yorkdale. She will be participating in a live interview on June 21 from 5 pm until 5:30 pm, and signing autographs from 5:30 pm until 6:30 pm. Plus, receive a deluxe sample of one of Michelle's favourite products with the purchase of any Lancome make up at The Bay Yorkdale.

Next Tuesday, June 26, the Project Sunshine Young Patrons Circle will be hosting their first ever Shine On! Summer Soiree from 5 pm - 9:30 pm at 3 Charles Street East. The event - a patio party - will feature fashion collections by Toronto's young designers Abegail Barrios, Erin Fitzpatrick, and Christopher Paunil. All sales will benefit Project Sunshine Canada and you can RSVP to courtney@projectsunshine.org.

On Thursday night, June 21, head down to Leslieville for the first edition of Summerlust - the less freezing-cold version of Holiday Wanderlust. The event will be filled with good deals, great food, and over 40 buskers, and will take place between 6 pm- 10 pm. Stores (including clothing boutiques Thrill of the Find and Doll Factory by Damzels) and restaurants between Logan and Greenwood along Queen Street East will be open later than usual. Word on the street is there'll also be give-aways and the traditional gnome hunt!

SALES

Riant Boutique (35 Bathurst Street) - home to a number of labels including Rebecca Minkoff, Wildfox, and Rebecca Taylor - has put a number of new items on sale, and marked them at up to 50% off. 35 Bathurst Street.

Over The Rainbow's (101 Yorkville Avenue) summer sale, which has been going on for quite some time, is still going strong. Stock up on selected denim at 50% off, and fashion items at 30% off.

Until Sunday, get all your regularly priced British street fashion for 50% off at Fred Perry (964 Queen Street West). Yes, you heard right. Half off. Everything regular price. For five more days.

Photo courtesy of Abegail Barrios Designs