PARIS — Kering, which is in the final stages of selling La Redoute, has in the past five years invested more than 400 million euros, or $535 million at current exchange rates, in the struggling French catalogue retailer.
Kering president and chief executive officer Francois-Henri Pinault shared that figure on Tuesday during a meeting with Lille mayor Martine Aubry. He also assured Aubry and other elected officials that Kering is studying offers from three potential buyers with a view to minimizing the impact on employment.
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)