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Gianfranco Ferré's White Knight?... Vera Wang, Zale Close to Deal...

There is another white knight on the horizon that may guarantee a future for the Gianfranco Ferré label.

IS THERE A DIAMOND IN VERA’S FUTURE?: WWD has heard from market sources that Vera Wang and jewelry chain Zale Corp. are thisclose to inking a deal for a diamond collection that would be exclusive to the third-largest jeweler in the U.S. The deal reportedly also involves a third party as the stone supplier. One banker said it would be a good deal for Zale, since the bridal business is one of the few that is recession-proof. Executives at Wang did not return calls for comment. A Zale spokeswoman said if an announcement were to be made, it would be when the firm next reports earnings on Feb. 23.

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