halston

>> On the heels of news that Sarah Jessica Parker and Harvey Weinstein are both on their way out from Halston, the next logical question is: What about Halston creative director Marios Schwab?

According to WWD, there's recently been speculation that Schwab's contract may not be renewed unless he relocates from London, where he designs his eponymous collection, to New York, where Halston is based. Adding fuel to that fire is the fact that Halston owners Hilco Consumer Capital currently seem to be interested in pursuing a licensing model over selling the brand or seeking additional investment to support Schwab.

But where did it go wrong with Parker? WWD points out: "Unlike Victoria Beckham and Mary-Kate and Ashley Olsen, who have made successful transitions into fashion, Parker never put her entertainment projects on the back burner to focus exclusively on Halston and instead spent months on movie sets when she might have been a fixture in Halston’s showroom . . . In the early days, Parker was very involved in the Halston Heritage design process and, on occasion, sported the label in her public outings. Over time, however, the actress is said to have used her role at the firm to demand the kinds of clothes she wanted for herself, which were often at odds with the positioning of the contemporary Heritage collection and the overall DNA of Halston."

Under Parker's current agreement with Hilco, which is in the process of being terminated, she is said to be entitled to roughly $13 million over the next four years.

>> After reports yesterday that Sarah Jessica Parker is parting ways with Halston — WWD confirms that the two parties are in the midst of terminating their agreement — Harvey Weinstein, too, is said to be on the way out, according to WWD's sources.

A Halston statement could be coming as soon as today, although it's unclear whether it will address Weinstein's next move with regards to the label. The Weinstein Company acquired Halston with Hilco Consumer Capital in 2007.

After joining Halston in January 2010 as the president and chief creative officer of Halston Heritage, Sarah Jessica Parker has reportedly parted ways with the brand. According to WWD, the two are currently working on terminating the agreement. Details are still under wraps, but Halston is said to be cash poor and could be sold again. Are you sad to see SJP leave the brand?

>> Sarah Jessica Parker, who joined Halston in January 2010 as the president and chief creative officer of the Halston Heritage contemporary label (and simultaneously took equity in the company), is no longer involved with the brand, Vogue reports. In Parker's August 2011 Vogue cover story, writer Eve MacSweeney notes that her Halston "relationship recently came to an end." Parker was still working with Halston as recently as late April, but at the time it was also suggested that the label was cash poor and could be sold again. [Vogue]

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>> Halston, which was acquired by Hilco Consumer Capital and Harvey Weinstein's The Weinstein Company in 2007, is said to be looking for some more funds these days. According to a source familiar with the situation, WWD reports, the brand has hired an investment bank to explore its options, which could range from a cash infusion to a sale of the whole company.

The contemporary Halston Heritage label, of which Sarah Jessica Parker is president and chief creative officer, has been gaining traction since its launch a year ago. It “was definitely a viable business,” says the source, but the company needs more growth capital and the investors don't want to put more money in after four years. It could be tough to do a deal, however, the source warns: “It’s a very complicated structure and dynamic at the board level."

Richard Kaye, EVP and chief marketing officer at Hilco Trading, Hilco Consumer Capital's parent company, had no comment on any future plans for Halston.

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