Ralph Lauren Corp.’s mea culpa over foreign bribes will cost it about $1.6 million but likely save it far more in penalties, effort and time.
The company will pay the U.S. Department of Justice $882,000 and the Securities and Exchange Commission nearly $735,000 to settle claims that it violated the Foreign Corrupt Practices Act when a manager at its subsidiary in Argentina offered bribes to government officials to avoid inspection and Customs requirements between 2005 and 2009.
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)