The Icelandic group Baugur, which holds an 8.58 percent stake in Saks Fifth Avenue, has cast off its noncore assets, and plans to devote itself to one business: retail.
Baugur said Tuesday it has agreed to sell off its media, technology and financial investments to two new independent companies — Stodir Invest and Styrkur Invest — for 430 million pounds, or $847 million at current exchange.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)