Jones Apparel Group and Istithmar have inked a new $942.3 million cash deal for the Dubai-based firm’s purchase of Barneys New York.
The new agreement allows Fast Retailing Co. Ltd., Istithmar’s competitor for Barneys, to make one more offer for the upscale retailer. That offer has to be submitted by 5 p.m., Thursday. Should Jones accept a new offer from Fast, the U.S. apparel giant must pay Istithmar a termination fee of $34.7 million.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"