Posted Sept. 4, 2007 -- If anyone knows fashion, it's Kimora Lee Simmons, who some might say is one of the most influential designers in women's urban fashion. A former model with enough Louis Vuitton bags to open up stores from coast to coast -  no seriously - apparently she has the largest collection known to man, is a fabulous beauty with an insatiable appetite for the finer things in life.

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Happily, InStyle tips us off to some advice from Baby Phat's leading lady on the rules of fashion.

Be a Schlub. Sometimes
A lot of times I leave the house looking schleppy. I'm a working mom. Wear a Chanel jacket, honey, and you're going to get ice cream on it. Actually, my kids are dairy-free. With them it would be sorbet.

Share the wealth...
My children and I donate clothes to Dress for Success and other charities. It's all about sharing. Everything can't fit in my closet, so I purge four times a year.

... but hold on to some things
I just got a pair of hard-to-find Lanvin shoes. The heels are too chunky for me, so I was going to give them away. But I thought, no - when my kids are 18, the shoes are going to be hot, so I kept them.

Go ahead - treat yourself
My weakness? Jewelry, which I buy for myself. You can't count on someone else doing that for you. Very few women have a luxury of being given diamonds.