Second chance.Tom Cruise recently took over at United Artists, the storied, but recently struggling film studio. Former Miramax mogul Harvey Weinstein may be attempting a similar resuscitation resuscitation /re·sus·ci·ta·tion/ (-sus?i-ta´shun) restoration to life of one apparently dead. cardiopulmonary resuscitation . His Weinstein Co. purchased the Halston fashion brand last week with private equity firm Hilco Consumer Capital. The partners are attempting to revive the legendary brand that once counted Elizabeth Taylor Noun 1. Elizabeth Taylor - United States film actress (born in England) who was a childhood star; as an adult she often co-starred with Richard Burton (born in 1932) Taylor and Andy Warhol Noun 1. Andy Warhol - United States artist who was a leader of the Pop Art movement (1930-1987) Warhol among its clients. Halston is also credited with introducing ultra suede. Weinstein's interest in the fragrance and fashion world isn't so surprising. The "Chicago" and "Shakespeare in Love" producer has for several years given funding and financial advice to Marchesa mar·che·sa n. pl. mar·che·se 1. The wife or widow of a marchese. 2. An Italian noblewoman ranking above a countess and below a princess. 3. Used as the title for such a noblewoman. , a young, but high-profile fashion house. Weinstein was also executive producer of "Project Runway Project Runway is an American reality television series on the Bravo network that focuses on fashion design. Its contestants compete with each other to create the best clothes and are usually restricted in their time, materials, and theme. ." Tamara Mellon, co-founder and president of shoe company Jimmy Choo, presented Weinstein with the deal and will now provide creative direction and help structure management at the new Halston. Mellon was a big fan of Halston founder Roy Halston Frowick, who died of AIDS in 1990. "I have long believed that the glamour, elegance and timeless modernity of the clothes he created are as relevant today as they were when he stood at the epicenter of the fashion world 30 years ago," Mellon said. The partners purchased Halston and other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. from New Jersey-based Neema Clothing Ltd. for an undisclosed sum. Hilco also recently acquired CJ Apparel Group and Caribbean Joe brand. Staff reporter Emily Bryson York can be reached at (323) 549-5225, ext. 235, or at eyork@labusinessjournal.com. |
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