There might be some huge changes coming from Halston in the very near future.
The luxury brand has hired an investment banker to explore its current options. This could mean anything from just a cash infusion to the sale of the whole company so outsiders aren't sure if it is time to worry just yet.
Halston was acquired by Hilco Consumer Capital and Harvey Weinstein’s The Weinstein Co. in 2007. With the help of Tamara Mellon, founder and president of Jimmy Choo, the investors looked to reenergize the brand. Halston already counts Sarah Jessica Parker as its President and Chief Creative Officer.
The brand, though it has had several struggles including resignation of its CEO Bonnie Takhar last November, has found its strength in re-designing its iconic looks of its Studio 54 days in the contemporary Halston Heritage line. A source said Heritage was getting traction and “was definitely a viable business,” but that the company needs growth capital and the investors don’t want to put more money in after four years. “It’s a very complicated structure and dynamic at the board level,” the source said.
– Taneisha Jordan
Tags: Bonnie Takhar, company, Halston, Halston Heritage, Harvey Weinsteinâ€™s The Weinstein Co., Hilco Consumer Capital, investment banker, luxury, sale, Sarah Jessica Parker, Tamara Mellon, Taneisha Jordan