NEW YORK: Lizzie Grubman's legal fate has yet to be determined, but
her PR firm has already been stripped of one of its biggest assets.
Peggy Siegal, who merged with Grubman in March 2000, revealed last
Tuesday that she is leaving their glamour factory to team up with
fashion PR maven Harriet Weintraub. Their new agency will be known as
Harriet Weintraub/Peggy Siegal PR.
Speculation about the breakup of the partnership has been rife since
Grubman was arrested for vehicular assault in July. She allegedly
injured 16 people while backing up her Mercedes SUV outside the
Conscience Point Inn nightclub in the Hamptons.
While Grubman wished her former partner well, Siegal's departure won't
bode well for the firm's revenues, which are currently estimated to be
in the $1.5 million range.
Siegal herself has indicated that the split was an amicable one. An
industry insider speculated that the post-September 11 slowdown in New
York's social scene may be what prompted the move, and that Weintraub,
known for her work with high-end designers and the well-heeled benefit
crowd, would be an attractive partner for special-events expert
"There aren't as many big networking functions going on right now," the
source said. "Harriet represents a completely different universe -
older, more staid, more stable. She doesn't have the buzz or cachet that
Lizzie has, but maybe that's not a bad thing."