Fashion Breakfast

Liz Claiborne in final stages to sell the Ellen Tracy brand to a consortium led by Windsong Brands. Other investors in the consortium are a private investment group led by Barry Sternlicht and American Capital Strategies Ltd.(WWD)

With the predicted recession, Wall Street claims the retail sector is not the place to be in 2008. Low job growth and high unemployment numbers send the Dow Jones Industrial Average down 1.96 percent to 12,800.18 and the S&P Retail Index fell 3.89 percent to 378.86(WWD)

Celine names Simona Zerchi new president. She joins from from Prada USA Corp., where she was vice president of Miu Miu footwear, handbags and accessores. (WWD)

Couture Coco: France sets the cocktail trend with hot chocolate being the beverage of choice in the newest bars. The fashion world does not skip a beat and jumps on board, Jewelry firm Mauboussin just opened a chocolate bar on the third floor of its Champs-Elysees flagship where customers can sample exotic varieties like Guanaja.(WWD)

Naomi Campbell interviews Venezuelan president Hugo Chavez for her first piece in British GQ. The outspoken left wing leader confirms the catwalk queens curiosity to being a "people's president". (AFP Google)