Theyskens to join Nina Ricci

Olivier Theyskens is said to be Nina Ricci's new creative director. The Belgian designer, who lost his job at Rochas when owner Procter & Gamble decided to close the design house down, is believed to be hammering out a deal with Nina Ricci executives. According to WWD, market sources have said the contract could be finalized within a week. A spokeswoman for the French fashion house said that nothing had been confirmed and was unable to predict when any developments would be announced. Theyskens could not be reached for comment.

The designer will succeed Lars Nilsson, who has just resigned after three years with Ricci. Rumour has it that Nilsson might join a firm in New York , perhaps even Oscar de la Renta. The fashion house has, however, denied this rumour. Meanwhile, Theyskens is thought to be a perfect match for the romantic aesthetics of Ricci. The fashion house, which was founded in 1932, began as a couture house, but this portion of its business was stopped in 1998. The year before, Ricci was sold to the Spanish Puig Group, which also owns Carolina Herrera and Paco Rabanne. According to WWD, the Barcelona-based Puig Group had been interested in Theyskens for a while. Puig's president Mario Grauso was already seen at his most recent show for Rochas in March. Sources also said that Puig had been considering the acquisition of Rochas, whose fragrance division based in Spain and France , was a good match for the group. Meanwhile, Theyskens had been signalled at Nina Ricci in the spring as Puig conducted talks with P&G, writes WWD.

Theyskens will be joining a firm whose fashion star is once again on the rise. Puig's fragrance and cosmetics business may have suffered a setback in recent times, with the group making cuts in its Paco Rabanne and Nina Ricci beauty businesses, but it hasn't affected the fashion division. Ricci sales have grown rapidly in recent years, reports the company. The brand, injected with Nilsson's elegant take on fashion, is once again favoured by socialites. Moreover, the designer attended numerous road shows to promote his fall 2006 collection in the US , Japan , Germany and Spain . Theyskens should be able to amply fill his shoes.