Yesterday, media outlets from coast to coast were buzzing about Sarah Jessica Parker leaving her post as president and chief creative officer at Halston’s contemporary label, Halston Heritage. But today, the plot thickens even more as it was announced Harvey Weinstein, one of the owners of the company along with Hilco Consumer Capital, was planning his exit as well. Without any certainties as to why these departures are happening now, many are chalking it up to just another bout of turnover for a label that has seen many a creative and executive change up over the years.
WWD noted that back in April, Hilco had been looking for additional investment or to potentially sell Halston. According to one source, there were at least three bidders for the company including Max Azria, but Halston is now said to be pursuing a licensing model instead. The departure of Parker and Weinstein, both of whom WWD calls “high-profile personalities with no experience in running a fashion licensing business” may actually be a good thing for potential investors eyeing the company.
Weinstein is reportedly credited as bringing SJP onto the Halston Heritage label, forging a deal that granted the actress a seat on Halston’s board as well as an equity stake in the brand, in addition to 13 million over the next four years. Weinstein apparently hoped that Parker would revitalize the brand with her status as a style icon, despite her inexperience as both a designer or an executive. “I know I come to the company in a rather unorthodox way but I’m not the first to be president of a company without the traditional background,” Parker said at the time. “Others have been successful in those endeavors and I do so hope I can be as well.”
Now that other t.v. and movie-related projects and her family have allegedly come in the way of Parker’s dedication to the label, she is leaving with Weinstein on her heels (whatever happened to going down with the ship?) But despite these and other recent role changes at the label, many industry insiders believe the Halston label will weather the storm as it has many times since it’s heyday of the 70’s. One anonymous source even went so far as to say on the topic of Parker leaving the label, “I think Halston will be fine without her.” We definitely hope so.
-Alia Rajput
Article Source: WWD
Photo Source: zimbio. com
