MILAN — L Capital, the private equity fund controlled by LVMH Moët Hennessy Louis Vuitton, is in advanced talks to buy a majority stake in fashion house Piazza Sempione, according to a well-placed financial source.

Piazza Sempione declined to comment Friday. An L Capital spokesman, reached late Friday, denied that any transaction has taken place.

“We have not invested in Piazza Sempione,” he said.

Last year, Piazza Sempione both opened its first store in Rome and dressed Nicole Kidman in the film “The Interpreter.” Husband and wife team Roberto Monti and Marisa Guerrizio own the golden range label, which they founded in 1990. In the U.S., the line sells in Saks Fifth Avenue, Mitchells of Westport and Neiman Marcus.

L Capital, a private equity fund totaling 600 million euros, or $768 million, has made investments in about 15 businesses in the last five years, including the sportswear firm Gant, leather goods maker Antichi Pelletieri and video game retailer Micromania.

This story first appeared in the June 12, 2006 issue of WWD. Subscribe Today.

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