
Last fall, soon after Mary-Kate Olsen enrolled as one of only two self-made multimillionaires in the freshman class of New York University, she was seen dashing around Greenwich Village wearing floppy hats, huge sunglasses, dust-catcher skirts and street-sweeping cable-knit cardigans.
As fall turned to winter and edged toward spring, Ms. Olsen, 18, pushed her version of ashcan chic to emphatic extremes, an evolution charted by glossy magazines that snoop on stars in everyday activities. The look became dottier and dottier, until it morphed into a kind of homeless masquerade, one that was accented by subtle luxuries like a cashmere muffler, a Balenciaga lariat bag and of course her signature carryout latte from Starbucks.
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