Holmes & Yang has apparently disbanded due to a soured relationship between Holmes and co-designer Jeanne Yang.

Holmes & Yang made no bones about trying to step it up in the fashion department--and their Spring 2013 promised to be an effort to move their label in a more fashion-forward direction. So, how'd they do? From the good, to the bad, to the ugly, take a look at what the critics had to say about Holmes' and Yang's latest collection, and click through the gallery to see it for yourself.

This may be geeky, but one of my dreams as a fashion writer has been to observe a designer walking a department store sales staff through his or her collection. The great ones all do this--Michael Kors is legendary for it--but because it happens before the store opens, it's not something that onlookers often witness. But yesterday my luck turned. I watched Katie Holmes and Jeanne Yang explain their collection to a small group of tenured Barneys New York staff. "If you have questions about the garments, email us," Yang told them. "We want feedback from the customers." This quick statement conveyed that Holmes & Yang is serious business--definitely not a silly side project from an actress and her stylist.

We've become huge fans of the Hollywood Reporter over the last few months, mostly due to Janice Min's excellent makeover of the trade publication. Staffer Merle Ginsberg navigates the LA fashion scene with an entertaining mix of gossip, insider news, and general knowledge that is not only rare for the West Coast, but rare for fashion writing in general. So we were thrilled to see Ginsberg's list of the 25 most powerful stylists in Hollywood covering this week's issue. Rachel Zoe obviously ranks number one, with names like Nicole Chavez, Annabel Tollman, Brad Goreski, Leslie Fremar, and Kate Young rounding it out. See the full list below, and read the Zoe cover story here.