Following its much talked about Fashion Benefit on Apr. 29, Parsons The New School for Design is set to honor Senior VP of IMG Fashion’s Fern Mallis with its first Associate in Applied Science (AAS) Icon Award. The Award will be handed out by famed designer Betsey Johnson during the 10th Annual Parson Fashion Studies AAS Line Debut, the year-end fashion event for the program this Thursday at the exclusive rooftop terrace of Lord & Taylor. Mallis is best known for her instrumental role in Fashion Week and her work with various charities including Fashion Targets Breast Cancer and 7th on Sale. AAS alumni Jen Kao, the upcoming New York-based designer, will simultaneously be awarded the Stacey Kipps Alumni Award. Parsons is also planning to give away its first Swarovki Accessory Award of $2,500. Beginning yesterday, the School staged a two-day static show exhibition of pieces from graduating collections, including items by Designers of the Year Julia Blum and Robert Fitzsimmons for womenswear and Edward Lorenz Tan, best known for his ruggedly sensual menswear.