TOKYO — Onward Kashiyama has made another big step to create a brand distribution empire in Japan.
The apparel giant acquired import and distribution rights for Sonia Rykiel, Missoni and Gianfranco Ferré from Elbis, a subsidiary of struggling Seibu Department Stores. Seibu is working on a financial restructuring plan calling for $1.84 billion in loan forgiveness and a conversion of debt into equity worth approximately $83.3 million.
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)