Cuban designer Narciso Rodriguez has not had a very successful partnership with the Aeffe SpA fashion group, but he has something new to be happy about: his latest (and hopefully more successful) collaboration with Liz Claiborne Inc.

The latter, a $4.99 billion company, is gaining a 50 percent ownership interest in the Narciso Rodriguez name. Liz Claiborne will also form a new company to develop the Narciso Rodriguez brand and Narciso will naturally serve as creative director.

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