Jones Apparel Group boosted its stake in GRI Group, spending $15 million for a 15 percent interest in the Hong Kong-based retail distribution group and betting Asia will remain “a high growth region.”
Jones shelled out $20.2 million for 10 percent of GRI last June and now owns 25 percent of the company, which holds the exclusive license for Jones’ Nine West, Anne Klein New York, AK Anne Klein, Easy Spirit, Enzo Angiolini and Joan & David brands in Asia.
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)