The Ryan Murphy-produced limited series premieres on May 14
Ewan McGregor as Halston in New Netflix Series

Neflix's upcoming Halston will follow the legendary fashion designer's rise to fame and fortune, his drug-induced fall from grace and everything in between.

The debut trailer for the limited series, released on Monday, opens with Ewan McGregor (Halston) proclaiming "I have a vision. I'm going to change the face of American fashion."

The clip sees the designer developing his signature simple but luxurious aesthetic, his frequent Studio 54 nightclub appearances and his famous entourage of Liza Minnelli (Krysta Rodriguez), Elsa Peretti (Rebecca Dayan) and Victor Hugo (Gian Franco Rodriguez).

It also teases Halston's drug addiction, with one person telling the designer he's "out of control," and his then-controversial business decision to bring high fashion to the masses with a $1 billion JCPenney deal.

"Do you ever feel like everything you have could disappear in an instant?" McGregor says in the final scene as he looks out at New York City from a skyscraper window.

Credit: Netflix

Netflix previously announced that Halston, premiering on May 14, will follow the fashion designer as he builds a brand synonymous with "luxury, sex, status and fame" in New York City during the 1970s and '80s.

It will also show the late designer's downfall when a "hostile takeover forces him to battle for control of his most precious asset… the name Halston itself," a Netflix description reads, referencing the tension between the designer and corporate executives

Credit: Netflix

Last week, McGregor admitted he wasn't familiar with Halston before hearing about the project — but when he saw pictures of the tastemaker and his iconic inner circle, the actor was sold on the role.

"To find out that he was so massively famous in his time and I had never heard of him — that didn't make much sense to me," McGregor told The Hollywood Reporter of the '70s superstar.

"I didn't know [director and executive producer] Dan Minahan and I didn't know Halston," McGregor, 50, added in a new interview with the outlet. "I was just really taken with the presentation. He showed me all these photographs of Halston and the people in his circle — Liza Minnelli, [jewelry designer] Elsa Peretti, [his lover] Victor Hugo."

Credit: Netflix

"I could tell instantly from the photographs: I wanted to play him. Just something about the way he holds himself, something in his eyes," McGregor added.

According to THR, Minahan had been trying to make a feature film about Halston for almost 20 years, before re-pitching the idea as a limited series based on the biographical novel Simply Halston by Steven Gaines in 2019. 

With the Star Wars alum on board, Minahan began approaching streaming services. "It was a hard sell," he admitted. That is, until Ryan Murphy (the creative force behind some of the most talked-about shows of the last decade including GleePose and American Horror Story) heard about the project. 

"Ryan jumped right in and said, 'Don't give it to anyone else,'" Minahan recalled. "Suddenly we got fast-tracked into production."