Loehmann’s received a funding boost this week from parent company Istithmar, aiming to strengthen ties with factors and vendors, WWD has learned.
“This gives us the financial flexibility to run the business and accomplish what we need to do,” said Jerald Politzer, chief executive officer of the 63-unit, $425 million off-price chain. “It kind of lets us run our business on a really normalized basis.”
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?"