Esther Williams Back in the Swim

It was a reunion of sorts Thursday when Esther Williams paid a visit to the I. Magnin Bullocks Wilshire store. She was there to show her line of bathing suits and the occasion brought back some sweet memories. Williams used to be on the store’s payroll. When she was 17, putting herself through college and waiting for the 1940 Olympic tryouts, she worked in the sportswear department, hanging stock and modeling bathing suits. “I made $78 a month, which in 1940 was good money,” Williams said. It was during this time that L. B. Mayer approached her about a film contract, but Williams says she balked initially. “I thought I’d better stay at the store and maybe become a buyer. It was stable. I thought I could become a retailer and maybe get somewhere.” Eventually, Mayer prevailed and Williams swan-dived to stardom in 26 films for MGM. Now Williams is back in the “stable” business of retailing.

* GQ J: May 25 is the day Jay Leno takes the helm at NBC’s “The Tonight Show.” Beverly Hills retailer Fred Hayman and fashion consultant Annie O’Neill, Leno’s wardrobing alliance, have been hard at work, behind the scenes, on Leno’s fashion direction. They trekked to New York showrooms before deciding on his new look: double- and single-breasted suits with an occasional sportswear piece. Among the labels he’ll be wearing are Ermenegildo Zegna, Krizia and V2, by Gianni Versace. Leno’s look will be loosened up considerably, says O’Neill, who describes it as somewhat classic yet a little hip. “The cut of his jackets are a little longer and a little bit fuller than the shorter, tighter styles he’s been wearing.”

* FASHION THE VICTIM: Now that he’s cut the movie industry down to size with his Hollywood satire “The Player,” director Robert Altman is researching another one on the fashion business, presumably using the same microscope. Altman, who is attending the Cannes Film Festival with “Player” star Tim Robbins, let it slip that the tentative title of the project is “Pret-a-Porter,” and will explore the inner workings of the rag trade. Under the guise of research, Altman was seen at the Paris designer shows earlier this year.

* THE CRUSH HAS BEEN POSTPONED: Don’t bother to line up on Main Street in Santa Monica Saturday morning. The A/X shop won’t be opening then. The Giorgio Armani-on-a-budget store, where the price of all the goodies hovers around $100, will not open until May 30, says a spokesman. Work on the store has been held up by post-riot reconstruction.

* CRUISING FOR THE CUP: Guests were asked to wear nautical chic for Frette’s party last week aboard a rented yacht in Marina del Rey. The occasion was a tribute to the America’s Cup and a chance for the Italian firm, which has a store on Rodeo Drive, to exhibit some new linens and bedding. Checking out the merchandise were Anne Archer, who looked shipshape in a blue blazer and white linen pants, and Rodney Dangerfield, who looked shipwrecked in safari separates.

* PRINCESS PRICES: If you covet but can’t afford a Kelly bag, the drop-dead chic Hermes handbag so adored by Grace Kelly that the company named it after her, here’s a chance to see why the price is in the nose-bleeding stratosphere. Hermes is dispatching from Paris to its Rodeo Drive store a master leather craftsperson who will stitch-- oui, by hand--a Kelly from start to finish May 20 through May 22. These days, by the way, a Kelly will set you back $3,100 (calfskin) to $10,850 (crocodile).