Couturier's Coup

Halston, ne Roy Halston Frowick, is one of high fashion's best designers --and best business minds. Unheard of 15 years ago, he built a custom and ready-to-wear business that will sell $28 million worth of high-priced fashions this year, including thousands of "ultra suede" dresses that go for $220 apiece.

A fortnight ago, Halston made his biggest sale of all. For about $10 million in stock, New York's giant Norton Simon Inc., a $1.5 billion-a-year conglomerate with products ranging from ketchup to cosmetics, acquired Halston's business, his services as a designer and, most valuable of all, his name. Halston will now be free from the pressures of merchandising his wares and more able to exercise the fashion touch that has won him two Coty Awards (the fashion Oscar) and a clientele that includes Barbra Streisand, Mrs. Alfred Gwynne Vanderbilt and Jacqueline Kennedy Onassis.

Among the designer's first tasks will be creation of a new fragrance for Simon's Max Factor subsidiary. Halston will also continue to churn out designs for McCall Pattern Co., as he has for the past year; then he may turn his hand to luggage, jewelry and a line of sports wear. His stock in trade--the high-priced dress--will not be neglected either. The newly created Halston Enterprises Inc. will continue to produce a ready-to-wear line that, because of Simon's vast merchandising resources, will now have a much wider distribution.

Some fashion experts worry that he may be spreading himself too thin. Halston him self says he is merely broadening his public.

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