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A celebrity nearly from birth, Ashley Olsen is the last person you’d expect to get stage jitters. But at last night’s Fashion Group International’s 25th annual Night of Stars in N.Y.C., where she was slated to give a speech honoring Calvin Klein’s creative director Francisco Costa, the star admitted to PEOPLE, “I’m nervous,” adding wryly, “There’s a story there.” The actress, clad in a Calvin Klein column dress, arrived on Costa’s arm, and got a head-start praising her friend, saying, “When I first moved to New York, he’s the guy that really captured my eye. I followed [his work].” For his part, Costa was no less effusive about Olsen’s designs for her labels The Row and Elizabeth & James — especially when it came to the perfect fit of The Row’s pants. “They are actually great,” he said. “In fact, I was with Lauren Hutton. And I said, ‘You look so great!’ And she said, ‘It’s The Row.’ I was just so jealous.” So what does he think accounts for Olsen’s style success? “She really understands herself,” he says. “It’s mostly just what she feels comfortable wearing. It’s her eye.” Olsen sees the same in Costa. “I think it is all in the details for him,” she says. “It’s all in his head. Even if it looks like just a simple garment, you can go up to it and see the details that not many people would consider while fitting a garment.” – Jeffrey Slonim

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Fashionistas and fans alike are buzzing about Mary-Kate and Ashley Olsen’s new book Influence, filled with photos and essays on the twins. And now, you can not only buy the tome but you can meet the stylish siblings in person by going to one of their book signings. In their blog, Ashley alerts her fans that they’ll be in stores in N.Y.C. and Los Angeles in the next few weeks for in-person signings. So if you are in N.Y.C on Tuesday October 28, swing by the Barnes and Noble at Union Square at 12:30 pm. But if you’re in Los Angeles, you’ll have to wait until November 12 to see Mary-Kate and Ashley at the Borders in Westwood at 7 pm. And if you can’t make it in person, you can still pick up the coffee table book at amazon.com, $24, now.

Richard Young/startraks

With their new jewelry collection just hitting stores now, co-designers already have their sights set on another venture: shoes! Mary-Kate and Ashley Olsen have joined forces with Steve Madden Ltd. to create a line of footwear to add to their successful sportswear collection Elizabeth and James. “We are excited to partner with Steve Madden to create the new Elizabeth and James footwear line,” Mary-Kate says in a released statement. “With their proven experience in all aspects of design, production and distribution, we intend to take the contemporary shoe market to a new level.” Mary-Kate and Ashley will drive the creative direction of the Elizabeth and James shoe collection towards the sophisticated and chic woman they already cater to. “Mary-Kate and I found Steve Madden to truly understand our design philosophy, and how we want this brand to grow over the coming years,” Ashley told the press. “They have the resources and talent to help execute our vision for the Elizabeth and James brand.” The line is scheduled to hit high-end specialty retailers in mid-2009 and we cannot wait! Mary-Kate and Ashley have always had outrageous taste in shoes, from sky-high gladiator sandals to trendy peep-toe booties, so we can’t wait to see what they have in store for us. Pick up this week’s issue of PEOPLE to hear what Mary-Kate and Ashley have to say about their jewelry collection.

Alex Cao; Richard Young/startraks

When we first heard Mary-Kate and Ashley Olsen were joining forces with famed jewelry designer Robert Lee Morris to create pieces for their successful Elizabeth and James line, we were excited and curious. Now the pieces have already hit Intermix for fall pre-order, and we like what we see so far. While the whole collection isn’t up there — the twins and Morris designed over 80 pieces! — all the pieces are edgy and clearly Olsen-inspired. From an antique looking gold snake ring, $125, to a fierce dagger charm necklace, $525, the Olsens and their celebrity fans are sure to be spotted wearing these funky designs soon. Tell us: What do you think of the new Elizabeth & James jewelry? Are you going to buy it?

Richard Young/startraks

Not content with their already booming fashion empire, Mary-Kate and Ashley Olsen are adding to their already successful Elizabeth and James Line — with jewelry, reports Women’s Wear Daily. The designing duo have teamed with famed jewelry designer, Robert Lee Morris, for their newest adventure in fashion. After seeing Morris be honored with a Lifetime Achievement Awards at last year’s CFDA Fashion Awards, the twins set their hears on working with the industry legend, who has created pieces for everyone from Calvin Klein and Donna Karan to Karl Lagerfeld in his forty year-plus career. The Olsens and Morris have created 80-plus styles for the jewelry line, including cuffs, earrings, necklaces and rings made from silver and antiqued brass. Motifs snakes, beetles, crosses and daggers. Ashley Olsen tells Women’s Wear Daily, “The symbols are attachable and you can take the jewelry and make it your own. There are solid silver and gold pieces to wear forever and comfort pieces that you’ll put on and wear everywhere.” Pieces will range from $65 to $700 and will hit Intermix stores nationwide in September. Tell us: Will you buy the Olsens’ new jewelry line?

Richard Young/Startraks

Here at StyleWatch, we love Mary-Kate and Ashley Olsen’s more affordable line Elizabeth + James, and we aren’t the only ones. Just this week, fashionista Nicole Richie and designer Lauren Conrad were sporting some of the line’s Spring looks. Then when we caught Nylon’s sneak peak on what to expect for fall, we had to share it with you. With prepster plaid skirts, bright colors like electric pink, flannel and more we couldn’t help but think Gossip Girl. Nylon rightfully calls it “trust fund babe goes to a rock concert”. We love it! Take a peek at all the new stuff then, tell us: What do you think of Elizabeth + James’s fall collection?

Kristin Callahan/Bauer-Griffin; Zak Brian/Gamma

It’s one of the biggest fashion evenings of the year, and Monday night’s annual Costume Institute Gala in New York has a few famous surprises in store — including the ultra-exclusive seating plan. Fashionweekdaily.com reports that stylish twins Mary-Kate and Ashley Olsen will dine with Diane Von Furstenberg in custom gowns by the designer. Gisele Bundchen and quarterback beau Tom Brady will share a table with Donatella Versace, while Hilary Duff will take a seat with the editors of Allure. And of course, Anna Wintour and her glamorous Vogue team will mingle with co-hosts Julia Roberts and George Clooney. We can’t wait to see what happens when so many stylish stars collide. Check back here on Tuesday for all their fabulous fashions.