Joe’s Jeans Inc. has agreed to pay creative director Joe Dahan $9.2 million in place of earn-out allowances tied to the company’s gross profit.
The sum will be divided into weekly installments stretched over a 33-month period ending in November 2015. It replaces a provision dating back to the 2007 acquisition of Dahan’s company, JD Holdings Inc., by a subsidiary of Joe’s under which Dahan received a percentage of the company’s gross profit over a 10-year period.
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)