Tom Ford's Womenswear Plans

The designer has reportedly started recruiting accessories specialists and is putting together a design team for a return to the ladies clothing market, his first foray into the area under his own name.

Tom confirmed his intentions to move back toward womenswear last year, saying in October: "Financing is extremely expensive right now, so if we find financing in the right situation we'll be able to start a women's collection soon. If we don't, we may have to wait a while."

He warned, however, the project would take over a year to complete, adding: "It will take me 18 months when I start, because I have to hire the team, find the factories, put everything together and then get the stores ready so there's a place for these clothes."

Meanwhile, Tom - who has previously worked for Gucci and YSL - dressed Oscars hosts Steve Martin and Alec Baldwin for last night's (07.03.10) ceremony, which included a costume changed for Alec from a single-breasted tuxedo with grosgrain peak lapels, white pique front shirts and black grosgrain cummerbunds and bow ties to a navy blue, single-breasted tuxedo with a grosgrain peak lapel.

Colin Firth - who starred in Tom's directorial debut film 'A Single Man' for which he was nominated for the Best Actor award - was also dressed by the designer at the Oscars.