She was born into the family of Lipa Halfin, an emigrant from Bessarabia. In 1974, she introduced the knitted jersey "wrap dress", which became an iconic piece in women's fashion; it is included in the collection of the Costume Institute of the Metropolitan Museum of Art. After the success of the wrap dress, Fürstenberg was featured on the cover of Newsweek magazine in 1976. The accompanying article de- clared her "the most marketable woman since Coco Chanel". She launched a cosmetic line and her first fragrance, "Tatiana", named after her daughter. The New York Times reported that by 1979 the annual retail sales for the company were$150 million. In 1998, she published her business memoir, Diane: ASignature Life. In 2004, she introduced the DVF by H. Stern fine jewelry collection, and launched scarves and beachwear. In 2006, she was elected as president of the Council of Fashion Designers of America, a position she still holds. In 2008, she received a star on Seventh Avenue's Fashion Walk of Fame. In 2010, Fürstenberg was awarded a gold medal at the annual Queen Sofia Spanish Institute Gold Medal Gala. In 2011, DVF introduced a home collection, and a signature fragrance, DIANE. Her clothes have been worn by many celebrities including Catherine, Duchess of Cambridge, Gwyneth Paltrow, Kate Beckinsale, Madonna, Tina Brown, Jessica Alba, Susan Sarandon, Priyanka Chopra, Jennifer Lopez and Whitney Houston.