PARIS - Swiss beauty manufacturer Art & Fragrance SA has sold a 49.2 percent share of the French crystal and jewelry house Lalique to Financière Saint-Germain for 20.5 million euros, or $29.3 million at current exchange.
The deal was revealed as Zollikerberg, Switzerland-based Art & Fragrance posted first-half losses of 6.2 million Swiss francs, or $5.9 million at average exchange, due to challenging market conditions and the cost of restructuring Lalique, which it acquired from Groupe Pochet in February. Art & Fragrance's six-month sales came in at 45.9 million Swiss francs, or $43.8 million.
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)