Earlier this week Tom Waits joined Neil Diamond, Alice Cooper, Tom Waits, Darlene Love, Dr. John and Leon Russell for induction into the Rock and Roll Hall of Fame. A fine time to celebrate his unique style. We also hear Olivia Wilde might be ready to break out a new Match.com profile and your next visit to Vegas should include a stop at Tag Heuer’s shiny new store. Oh, and the baggy look is back! Yes!

Check below for our weekly roundup of the latest style news.

  • The Wall Street Journal reports that some menswear designers are in a more relaxed mood. And that means baggy, baby! “Fashion houses such as Calvin Klein Collection, Comme des Garçons and Louis Vuitton put fuller, wider cuts in their runway collections for this year, featuring baggy pleated pants and voluminous, flowing shirts and coats.”
  • A trio of items from Forbes: Nelson Mandela’s AIDS charity 46664 is launching a fashion line, 46664 Apparel, which will consist of brightly colored gulf shirts, jeans and button-downs in traditional African prints, as well as belts and other accessories; Does the Men’s Wear Industry Matter?; Retail billionaire Tadashi Yanai, one of Japan’s richest people, has pledged 1 billion yen ($12.2 million) of his own money towards disaster relief efforts in the devastated northeastern parts of the country.
  • The Swiss luxury watch brand Tag Heuer is opening in Las Vegas. The debut in Sin City coincides with the company celebrating 150 years as a sponsor of motor racing. The location will be in Crystals at CityCenter. The official opening is scheduled for April, to be hosted by brand ambassador Maria Sharapova, however the boutique is now open to the public.
  • Check out GQ’s Guide to Denim Right Now
  • Saturdays Surf NYC – a brand new online surf store. All kinds of cool apparel and accessories – and surfboards, of course.
  • FYI: Olivia Wilde Files for Divorce. After eight years of marriage and a month of seperation, Olivia Wilde and her husband, Tao Ruspoli are calling it quits.
  • On Monday night, Tom Waits was one of the performers inducted into the Rock and Roll Hall of Fame. That’s so awesome. Esquire reflects on the artist’s unique sense of style.
  • We’re digging these new Zanerobe sunglasses. [via laststyleofdefense]