Fashion Breakfast

L'oreal buys YSL Beaute? On Wednesday, the French beauty giant proposed to pay PPR 1.15 billion euros for YSL Beaute Holding.(WWD)

Sandra Brant, C.E.O, president and publisher of Brant Publications has decided to sell her 50 percent interest in the company to co-owner and ex-husband Peter Brant and will leave the company that publishes Interview, Art in America and Antiques. Editor Ingrid Sischy also resigns.(WWD)

Jimmy Choo's Tamara Mellon files a $10 million lawsuit against mother, Ann Yeardye for breach of contract regarding the sale of the company in 2004.(WWD)

Harold Tillman, the Jaeger boss, has been named the new chairman of the British Fashion Council. Stuart Rose will step down after London Fashion Week.(Vogue UK)

Hillary Clinton graces the pages of American Harper's Bazaar. In the February issue of Vogue, Anna Wintour criticized Hillary for backing out of a shoot she had scheduled and said it was Clinton was afraid of appearing "too feminine". Maybe she just likes Bazaar's editor, Glenda Bailey more.(Catwalkqueen.tv)

Valentino's stated reasons for retirement stem from a lack of creativity in the business. He says, "the world of fashion has now been ruined. I became rather bored with continuing in a world which doesn't say anything to me. There is little creativity and too much business."(Pagesix.com)