RackedWire: Trans-Atlantic Store Swaps; Project Runway Gets Sponsored; Barneys' Gives Back

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NYC: For the entire month of August, Barneys is offering 20% off your purchase of new denim when you bring it an old pair of jeans to the store. Think of it as the Cash for Clunkers equivalent for clothes. And, better yet, Barneys will take care of recycling all of the old denim that it receives. [Racked Inbox]

NYC/LONDON: Topshop and Burberry aren't the only native London stores that will set up shop in NYC this year. Come fall, New Yorkers will be able to shop like Londoners without ever setting foot on a plane. The two fashion capitals are swapping shops, says Elle UK; in other words, NYC will temporarily become home to stock from Beyond the Valley, Cowshed, and Twenty8Twelve, while London will house the likes of Earnest Sewn, In God We Trust and Hairy Mary's Vintage. [Elle UK]

YOUR TV: L'Oreal and Garnier have just signed on to sponsor season 6 of Project Runway, whose new season debuts on Lifetime August 20th. You know what that means: expect many a make-up and hair product-themed challenges whenever possible. The two companies will also be sponsoring what Lifetime is pushing as Project Runway's "companion" program: Models of the Runway (aka: Lifetime's answer to ANTM and Make Me A Supermodel). Except in Models of the Runway's case, contestants are vying to be paired up with the Project Runway winner. Fortunately there's hope that the latter will actually be pretty entertaining. As NY Mag said of the newly debuted trailer last week: "it sounds like they all hate each other and want to scratch each other to death at all times." Sounds like Grade A reality television to us. [Racked Inbox]