Signa Holding GmbH, the Austrian group that owns German department store operator Karstadt, sent Hudson’s Bay Co this week details of the financing it has put together for its 3 billion euro bid for Kaufhof.
The designer, whose previous posts include Oscar de la Renta and Ralph Lauren, as well as heading up her own label, Tre, has joined The Collected Group, where she will lead Current/Eliott's men's and women's lines.
Saks Fifth Avenue owner Hudson’s Bay Co said on Wednesday it had received a bid for its German department store chain Kaufhof from Signa Holding, the Austrian property and retail group that owns Karstadt.
Bergdorf Goodman is trying out the Korean Beauty trend. The department store has partnered with K-Beauty expert Alicia Yoon to open a Peach & Lily curated K-Beauty pop-up shop at its iconic Fifth Avenue location.
Malls have spent a reported $8 billion on renovations to distance themselves from traditional retail outlets. Trends include renaming properties, and adding entertainment and residential features for secondary use.
The sale of Lord & Taylor’s flagship Fifth Avenue store in Manhattan is not surprising considering the plight of retailers, but demand for buildings in major cities for conversion into co-working sites is still growing.
Canadian department store operator Hudson’s Bay Co agreed to sell its Lord & Taylor flagship building in New York for $850m to WeWork, in what may be a step toward easing tensions with activist investor Jonathan Litt.