We just got our hands on the new Ann Taylor Fall '11 lookbook, and we are impressed. Ann Taylor has undergone a fresh transformation in the last couple of years, taking its conservative, older identity — mom suits! — and injecting color, younger silhouettes, and some totally chic, covetable pieces into the collection. We've seen Katie Holmes and Naomi Watts  serve as the brand's face, and now, we're seeing some promising looks from the brand's Fall 2011 collection. There are minimal sheath tops and sleeveless jackets, a classic wool cape, and some rich accessories, including a classic over-the-shoulder bag that is on our to-buy list. Curious? Check out these first pics of Ann Taylor Fall.