Nordstrom Inc. has agreed to sell Façonnable for $210 million to the M1 Group, a diversified family-owned company based in Beirut, Lebanon, that's seeking to build a portfolio of luxury and fashion brands.
The $8.7 billion, Seattle-based Nordstrom bought the 57-year-old Faconnable in 2000 for $169 million, but started selling the collection exclusively in its stores in 1989. The brand, which has estimated worldwide sales of about $220 million, has grown into one of Nordstrom's top-five labels in terms of volume.
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)