SYDNEY — Australian department store chain Myer said Monday it has purchased a 65 percent stake in Sass & Bide for 42.3 million Australian dollars, or $42.8 million, plus a performance bonus based on fiscal 2011 sales results.
The transaction is expected to be completed in April, Myer said, explaining that the Sydney-based brand will be launched in about 30 Myer stores over the next 18 months.
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)