MILAN — Central Retail Corp. is the new owner of Italy’s La Rinascente.
Shareholders of the high-end department store chain approved the sale to the Thai giant retail conglomerate for 260 million euros, or $367.6 million at current exchange, 11 times the store’s 2010 earnings before interest, taxes, depreciation and amortization.
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)