• RICHEMONT SHARES CLIMB: Shares in Compagnie Financière Richemont soared nearly 40 percent on Tuesday, their first day of trading as a stand-alone luxury goods stock. Richemont, which still trades on the Swiss Stock Exchange, closed at 25.90 Swiss francs, or $22.42, up from a pro-forma closing price of 18.73 Swiss francs, or $16.21, a 38.2 percent change. All dollar figures have been calculated at current exchange. Luca Solca, a retail analyst at Bernstein in London, said the luxury-only stock is now more attractive to some investors. Richemont was split in two earlier this month: A luxury company that owns brands including Cartier, Dunhill and Chloé, and the holding company Reinet, whose investments include British American Tobacco.
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)