Failing Upwards

olivierCan someone tell Harvey Weinstein that if he wants to run a fashion company, he should read WWD instead of Variety? There’s talk that Halston, the brand Weinstein owns with a bunch of bankers, may hire Olivier Theyskens as its new creative director—he who managed to kill Rochas’ fashion line and put Nina Ricci on life support.

While Theyskens may be a talented costume designer who can whip up crazy fantasies for actresses to wear on the red carpet, the 31-year-old Belgian has proven repeatedly that he is incapable of creating clothes that women who pay actually want to buy. And in this economy, with the fashion trades announcing company bankruptcies and closures almost daily, trying to sell might be a good idea.

Yet, WWD is reporting that Vogue Editor Anna Wintour wants to find Theyskens a new house to take down—guess she likes those red carpet fantasies in her magazine too. Schiaparelli–the 1930s French house sked to relaunch next year—apparently talked to him. And Weinstein, who is friendly with Wintour, and his partners are said to be listening to her and inexplicably considering offering Theyskens the Halston job. Proof again that private equity should not be in the fashion business….