U.K.-based health and beauty group Alliance Boots said Sunday it will buy a 12 percent stake in Nanjing Pharmaceutical Company Limited for 560 million renminbi, or $88.49 million.
Alliance Boots said it will become the second-largest shareholder in Nanjing Pharmaceutical and have board and operational management representation. The Chinese company is China's fifth-largest pharmaceutical wholesaler in China with sales of 20 billion renminbi, or $3.16 billion, Alliance Boots said.
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)