Plus, the Nordstrom family is trying to buy back the company that bears its name.
The deal could still fall through at this point, though.
The department store will open Find @ Lord & Taylor, offering on-trend apparel, footwear and housewares at up to 70 percent off.
Saks has a new owner. The department store, which has tentatively been looking for a buyer for the past few months, was acquired by Lord & Taylor parent company Hudson's Bay this weekend.
It's been a while since we've really heard anything about William Rast, the men's and women's clothing label Justin Timberlake founded with his friend Trace Ayala back in 2005. The line was one of few celebrity clothing endeavors to be immediately embraced by the fashion industry--everyone from Anna Wintour to JC Chasez attended the runway shows and remember that Target collaboration? After that, it seemed like someone lost interest, whether it was us, the fashion industry, or Timberlake himself (when was the last time he stepped out in something other than Tom Ford--let alone William Rast?), but apparently it's still around.