Now that 'Project Runway' has officially found a new home over at Lifetime, there's plenty of space for something fabulous and stylish on the network that originated reality competition shows.

Enter 'The Fashion Show,' Bravo's new showcase for up-and-coming fashion designers to get their big break (premieres Thursday, May 7 at 10PM ET). Designer and personality extraordinaire Isaac Mizrahi takes the helm, with co-hosts Kelly Rowland of Destiny's Child fame and Fern Mallis, who started Mercedes-Benz Fashion Week, rounding things out.

So how will the show set itself apart? Is it gonna be better than 'Runway'? And will Mr. Mizrahi be wearing any undergarments (as he so famously asked celebs at the Golden Globes in 2006)? AOL TV got Mizrahi to dish and you don't want to miss what he told us ... and showed us. -- By Maggie Furlong

When I heard about Bravo's new reality program, The Fashion Show, a few phrases came to mind: "Imitation is the sincerest form of flattery" was one. "Don't get mad, get even" was another. Then there was "Anything you can do, I can do better."

Yes, it seems that The Fashion Show is a show that was conceived as a replacement for Project Runway, the Bravo hit series that has run off to Lifetime.

Fashion designer Isaac Mizrahi sparked a lot of discussion following his behavior on the red carpet last week while co-hosting the Golden Globes arrival show for E! Some outrageous moments include grabbing Scarlett Johansson's breast, looking down Teri Hatcher's dress, questioning Eva Longoria about her pubic hair, and referring to Charlize Theron's character in Monster as a "scary dyke with bad teeth." Yes, he was totally sexually harassing these women. Although none of those actresses have filed any complaints about their treatment, the Academy of Motion Picture Arts and Sciences is skeptical about whether Mizrahi should be working the red carpet during the Oscars. A spokesman for the Academy said they expect that Mizrahi won't behave like that on their red carpet and, if he does, "I cannot predict what we would do afterwards."

Did anyone watch the E! preshow? Was it offensive? I didn't see it, but this totally makes me want to watch the Oscars preshow in March. I'm hoping he takes Russell Crowe down a notch or two.