London's Harrods Sold for $2.2 Billion

- The 81-year-old owner of legendary London department store, Harrods, has announced he's planning to retire. With no successor in sight, Mohamed Al Fayed decided to sell the store to Qatar Holding for a whopping $2.2 billion. The colorful Al Fayed has long claimed that he loves the store so much that he'd like to be entombed on the roof -- and only last month apparently told The Sunday Times of London that he had no intention of selling -- so this news is likely to surprise more than a few store employees. [WWD]

- While the Michelle Obama effect has catapulted designers like Jason Wu and Prabal Gurung, the glow wasn't enough to keep Maria Pinto afloat, nor has it saved some store owners selling MObama-featured designers. [NY Times]

- Wondering what to do with your wedding dress now that the big day's over? Well, now you can apparently dissolve it in water. [Telegraph UK]

- According to a start-up advisor, the top luxury brands to invest in include very-known Hermes and lesser-known watchmaker Linde Werdelin. Oh, and, apparently, Lacroix!  [Fashionista

- Sienna Miller is the new star of Piaget's viral online campaign, to celebrate the 20th anniversary of the company's Possession collection. Look for her videos of the star wearing some of the jewelry label's signature chains. [WWD]

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