Like most creative people Narciso Rodriguez is not very good with money. The celebrated designer struggled financially for years while remaining a favorite of many people in the fashion community known for his wonderful couture collections.
Several months ago matters came to a head and he was facing certain bankruptcy. Rodriguez was fortunate enough to be able to reach out to his many powerful friends. Donna Karan, Ralph Lauren, and Anna Wintour came to his rescue and managed to broker a deal with Liz Claiborne to purchase a 50 percent interest in his label injecting $12 million of desperately needed cash. In what is being called a win win situation Claiborne for the first time will be entering the luxury market.
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New York - © 2007 fashionWATCH - Photo: Steve Wood
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