SMELL OF MONEY: Is Bernard Arnault getting back into acquisitions mode — or just doing a little holiday shopping? The LVMH Moët Hennessy Louis Vuitton chairman recently took a 16 percent stake in Lampe Berger, a French company best known...
SMELL OF MONEY: Is Bernard Arnault getting back into acquisitions mode — or just doing a little holiday shopping? The LVMH Moët Hennessy Louis Vuitton chairman recently took a 16 percent stake in Lampe Berger, a French company best known for its decorative, odor-eating lamps. Details of the transaction, done via his L Capital investment arm, were not disclosed. Lampe Berger, founded in 1898 by a pharmacist, supplied hospitals 100 years ago. Today, the company makes fancy lamps for home use that resemble oversized perfume bottles and magically dissipate cigarette smoke and odors like cooked cabbage. The firm is expected to have about $69 million in sales this year. The lamps range in price from about $60 into the thousands.
READ THE LABEL: Apparel makers will be granted a one-time exemption from being fined under mandatory garment content and care labeling laws, if a case of mislabeling against them is brought to the Federal Trade Commission’s attention. The FTC’s announcement this week is a policy decision that makes formal a longtime informal practice. Companies caught by the FTC for garment mislabeling could face up to $11,000 in fines for each mislabeled garment. However, as the FTC noted, with 34,000 companies importing and manufacturing more than $17 billion garments for sale in the U.S., "it is not surprising that minor violations regularly occur." The FTC said its new policy doesn’t mean a retreat from enforceing garment labeling rules and recapped its enforcement record: 31 cases since 1990, nine of which carried penalties ranging from $10,000 to $360,000.
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)