Effective tomorrow, Fern Mallis will be stepping down as global ambassador for IMG. She's also renouncing her role as the official face of Mercedes-Benz Fashion Week. Why the change? Fern is leaving to start her own firm titled Fern Mallis LLC. Don't expect to see Fern too far from the tents come Fall, IMG Fashion is Fern's first client. Mallis told WWD, "It's something I have been thinking about for a while. It seems like there is a lot [of] opportunity. When we were planning the move to Lincoln Center, it felt like closure, like the end of the cycle. It's time for a new adventure."