BERLIN — As part of a radical restructuring plan to improve cash flow and earnings, Arcandor AG, the struggling department store, catalogue and travel group, is spinning off its premium department store operations and a large portion of its catalogue business into a separate company called Atrys.
The new firm will control the department stores KaDeWe, Alsterhaus and Oberpollinger; eight underperformingKarstadt doors; 1,500 Quelle catalogue brick-and-mortar stores, and 115 Quelle Technical Centers. About 12,500 of Arcandor’s 50,000 employees could be affected.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"