The Talbots Inc. relieved itself of a major drain on its earnings and attention on Monday by agreeing to sell its J. Jill brand to Jill Acquisition, an affiliate of private equity firm Golden Gate Capital, for $75 million.
Talbots said in November that J. Jill was up for sale. The purchase price is about one-seventh the $517 million Talbots spent in 2006 for the brand, when it beat out Liz Claiborne Inc. in a bidding war.
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)