The firm also said that it plans to set up a unit in the U.K. to complete the acquisition, which will be paid in cash with its own capital and debt. Nanjing Xinjiekou, a Chinese department store group that carries general merchandise, said its board had approved the stake purchase plan. Sanpower Group, Nanjing Xinjiekou’s main shareholder, is a 5.5 billion pound, or $9.14 billion, Nanjing, China-based conglomerate with a portfolio that spans IT, finance, media, real estate, retail and e-commerce.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
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?"