American Apparel has won a new lease on life, with the signing of a new financing agreement with London-based private equity firm Lion Capital.
Under terms of the deal, which was finalized near midnight EDT on Thursday, Lion Capital will inject $80 million into the L.A.-based retailer of youthful underwear and sportswear, in exchange for warrants for 16 million new shares of American Apparel with a strike price of $2 per share.
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)