One to watch: Olivia Palermo

As the daughter of a real-estate developer and an interior decorator, socialite Olivia Palermo grew up on the Upper East Side with all the benefits of a wealthy upbringing – a private school education, expensive clothing and a year abroad in France. Now the new it-girl to watch, this flash-bulb friendly brunette is making waves on the social circuit, flaunting her versatile style on the red carpet, working a tailored look one day and boho chic the next.