Olivia Palermo wore a bikini on Monday to hang out on a yacht — designer Valentino Garavani's boat! — docked near Formentera in Spain. She's been off in Europe enjoying a break from her usual routine in NYC. At the beginning of July, Olivia saw a Valentino show in Rome. Next, it was time to travel to Verona, Italy, with her German-born boyfriend, Johannes Huebl, to see a presentation from the lingerie line Intimissimi. She then jetted to Spain, where she's been hanging out for the last week with Johannes. There may be some work involved for Olivia soon. She was recently unveiled in a new round of ads for the Spanish jewellery company Carrera y Carrera.