Victoria's Secret owner became a billionaire as his company soared 71 percent after its initial public offering in the Hong Kong exchange in October.
Loehmann's Holdings Inc., a seller of discounted designer goods from brands like Michael Kors and Calvin Klein, has filed for bankruptcy protection in the US Bankruptcy Court in Manhattan.
Private equity firm Sycamore Partners LLC is reportedly leading the bids for Men's Warehouse's discounted apparel and accessories store K&G. Sycamore is also in advanced talks to takeover Jones Group Inc.
Indian textile company Arvind Mills Ltd. would reportedly acquire a 49% stake in designer jeans brand Calvin Klein in India. As a result of the possible deal, Arvind would be inducted as Phillips-Van Heusen's new joint venture partner in the fashion house.