DSW Inc. has agreed to acquire a minority stake in Canada’s Town Shoes Ltd. with the option to acquire the remaining shares.
In a move that will provide a base for DSW to expand its brand into Canada, the U.S. retailer has agreed to acquire 44 percent of Town’s shares for a cash consideration of 68 million Canadian dollars, or $62 million at current exchange. Based in Toronto, Town operates 182 stores in Canada under banners including The Shoe Co., Shoe Warehouse and Town Shoes. Its 2013 sales totaled 291 million Canadian dollars, or $280.5 million at average exchange.
Penelope Cruz wows in a strapless white @chanelofficial feather dress. She is nominated for Best Movie/Limited Series Supporting Actress for The Assassination of Gianni Versace: American Crime Story. #Emmys
Take a peek into Gucci's new Instagram account (@guccibeauty), which is guided by Creative Director Alessandro Michele’s vision of beauty. In typical Gucci fashion, the account already features a series of artworks spanning across history, ethnicity, culture and geography. It will showcase and promote its new cosmetic launches and fragrances as well as looks from the fashion shows and special collaborations with artists and talents. #wwdbeauty
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