Investors in Tokyo took the lead of their U.S. counterparts and pushed shares in the Nikkei 225 down 5percent, or 605.04 points, to 11,609.72 Tuesday after the bankruptcy of investment bank Lehman Brothers and the sudden deal to sell Merrill Lynch to Bank of America rattled markets in the U.S. and Europe.
Among the fashion decliners in Tokyo were Fast Retailing, which runs the Uniqlo chain and was down 5.9 percent to 10,740 yen, and Shiseido, which fell 1.5 percent to 2,565 yen. Inthe department store sector, Takashimaya Co. was down 4.3 percent to 832 yenwhile Isetan Mitsukoshi Holdings was off 4.2 percent to 1,096 yen.
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)