LAPO'S FASHION WORLD: Lapo Elkann, who bought an undisclosed stake in Care Label, an Italian fashion house known for its ecological denim, is likely to present his first nature-friendly wares as early as December or January and probably in New York, according to sources. But the stylish entrepreneur has more on his fashion plate. He's reportedly in talks to buy storied tailor Sartoria Domenico Caraceni, currently owned by Gianna Campagna. The brand's namesake — who crafted bespoke suits for Elkann's grandfather, the late Gianni Agnelli — died decades ago, and today Caraceni exists under various offshoots. Campagna, a Caraceni apprentice, acquired the trademark in 1998 and operates out of Palazzo Bernasconi in Milan. Elkann has earned style points by sporting many of his grandfather's vintage Caraceni suits. A spokesman for Elkann had no comment.

SALE TALK AT AGENT PROVOCATEUR: Could Agent Provocateur be on the block? According to British press reports, companies, including the private equity firm 3i, have been mulling a purchase of the 13-year-old innerwear firm. However, a spokeswoman for Agent Provocateur — which is known for its high-end yet risqué lingerie — dismissed the reports as "speculation." "The board is considering a variety of different avenues," she said, who declined to elaborate as to whether the company was looking for a buyer or additional shareholders. A spokeswoman for 3i, whose investments include a 45 percent stake in Selective Beauty, the company that manufactures and distributes Agent Provocateur's fragrances, could not be reached for comment.

Since the brand's co-founders, Joe Corre and Serena Rees, were reported to have separated last year, speculation has swirled as to what the future of the business would be. Last year, Garry Hogarth, a supply chain consultant for the firm, was quoted as saying he was looking to take a stake in the brand, but the company's spokeswoman said he remains at the firm solely as a consultant.

One London-based investor said an overly ambitious price tag on the brand had put investors off the company in the past, "considering there is no proof yet of a [large] U.S. business," but added that "with the right valuation, this brand could sell." The investor also said Corre and Rees' separation could make potential buyers nervous. "Will they continue to present a united front [or] will one eventually want to cash out when the other wants to hang in there?"