President Barack Obama and wife Michelle is holds hands with Vice President Joe Biden and his wife Jill following Obama's victory speech to supporters in Chicago early Wednesday, Nov. 7 2012. (AP Photo/Jerome Delay)
President Barack Obama , joined by his wife Michelle, Vice President Joe Biden and his spouse Jill acknowledge applause after Obama delivered his victory speech to supporters gathered in Chicago early Wednesday Nov. 7 2012. (AP Photo/Jerome Delay)
President Barack Obama waves as he walks on stage with first lady Michelle Obama and daughters Malia and Sasha at his election night party Wednesday, Nov. 7, 2012, in Chicago. President Obama defeated Republican challenger former Massachusetts Gov. Mitt Romney.(AP Photo/Chris Carlson)
First lady Michelle Obama and President Barack Obama acknowledge their supporters at his election night party Wednesday, Nov. 7, 2012, in Chicago. President Obama defeated Republican challenger former Massachusetts Gov. Mitt Romney. (AP Photo/Pablo Martinez Monsivais)
CHICAGO, IL - NOVEMBER 06: U.S. President Barack Obama stands on stage with first lady Michelle Obama after his victory speech on election night at McCormick Place November 6, 2012 in Chicago, Illinois. Obama won reelection against Republican candidate, former Massachusetts Governor Mitt Romney. (Photo by Scott Olson/Getty Images)
CHICAGO, IL - NOVEMBER 06: U.S. President Barack Obama stands on stage with first lady Michelle Obama after his victory speech on election night at McCormick Place November 6, 2012 in Chicago, Illinois. Obama won reelection against Republican candidate, former Massachusetts Governor Mitt Romney. (Photo by Spencer Platt/Getty Images)
CHICAGO, IL - NOVEMBER 06: U.S. President Barack Obama stands on stage with first lady Michelle Obama after his victory speech on election night at McCormick Place November 6, 2012 in Chicago, Illinois. Obama won reelection against Republican candidate, former Massachusetts Governor Mitt Romney. (Photo by Jonathan Daniel/Getty Images)
CHICAGO, IL - NOVEMBER 06: U.S. President Barack Obama stands on stage with first lady Michelle Obama after his victory speech on election night at McCormick Place November 6, 2012 in Chicago, Illinois. Obama won reelection against Republican candidate, former Massachusetts Governor Mitt Romney. (Photo by Scott Olson/Getty Images)
CHICAGO, IL - NOVEMBER 06: U.S. President Barack Obama stands on stage with first lady Michelle Obama and daughters Sasha and Malia after his victory speech on election night at McCormick Place November 6, 2012 in Chicago, Illinois. Obama won reelection against Republican candidate, former Massachusetts Governor Mitt Romney. (Photo by Spencer Platt/Getty Images)
CHICAGO, IL - NOVEMBER 06: U.S. President Barack Obama walks on stage with first lady Michelle Obama and daughters Sasha and Malia to deliver his victory speech on election night at McCormick Place November 6, 2012 in Chicago, Illinois. Obama won reelection against Republican candidate, former Massachusetts Governor Mitt Romney. (Photo by Spencer Platt/Getty Images)
NEW YORK — As Michelle Obama stepped on stage with her husband in Chicago early Wednesday morning, she accepted her role not only as first lady but fashion tastemaker for four more years — this time, wearing a Michael Kors magenta silk chine pin-tucked dress. … Read More