NEW YORK — With an eye toward increasing its financial flexibility, Saks Inc. will sell the majority of its private label credit card accounts and balances to Household International for $1.4 billion.
The department store operator, however, will retain the customer service function of the business through a 10-year alliance with Household. Sale of the accounts is set to close by the end of the third quarter on Nov. 2.
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)