ELLEN TRACY UPDATE: Is Liz Claiborne Inc. the frontrunner to buy Ellen Tracy? According to sources, negotiations are continuing for Claiborne to buy the privately held bridge sportswear firm headed by Herb Gallen, and a deal could be imminent. “We don’t comment on rumors,” said a Liz Claiborne spokeswoman. Gallen couldn’t be reached for comment. Sources said Claiborne’s Dana Buchman division and Ellen Tracy would certainly give the firm a one-two punch in the bridge sportswear arena.
BEAUTY PILL: The European Commission cleared Swiss Food group Nestle SA’s business partnership with French cosmetics giant L’Oréal to develop a line of “cosmeceuticals,” dietary supplements for hair, nail and beauty care. As reported, L’Oréal and Nestle are to form a new company called Laboratoires Inneov, based in France, to create and market the products globally next year. Avon entered the cosmeceuticals category in May 2001, joining such manufacturers as Aveda.
This story first appeared in the July 30, 2002 issue of WWD. Subscribe Today.