MILAN — Italian clothing manufacturer and retailer Stefanel SpA has agreed to sell Munich-based women’s wear retailer Hallhuber GmbH to private equity firm Change Capital Partners LLP as it looks to reorganize its business.
The 25 million euro, or $35.4 million, sale to Blitz 09-450 GmbH, a German company controlled by Change Capital, is expected to be completed Sept. 10, subject to approval by German tax authorities, a spokesman for Stefanel confirmed Thursday. The figure could rise by another 4 million euros, or $5.7 million, following a conditional earn-out.
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)