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Exciting news from the rumor mill this morning, legendary designer Tom Ford could be building his much anticipated women's wear team as we speak. WWD sources say that Ford has tapped top talent from Givenchy and Alexander McQueen to build the line, which would debut in Fall 2011. The speculation is the designer would prefer a presentation over a flashy runway show and the two front running cities for the debut are New York and Milan. With the success of Ford's men's wear line, expensive and sought after sunglasses, inspired fragrances (eh hem) and that dreamy dress he designed for Julianne Moore last September, we have high hopes for his women's wear line to materialize—and launch in New York. [WWD, subscription req'd]