NRDC Equity Partners, the giant retail developer and owner of department-store chain Lord & Taylor, is near a deal to invest in New York fashion designer Peter Som (pictured above; left), according to people familiar with the situation.
Although the deal would be small -- the investment is expected to be less than $10 million -- it would represent an unusual move by a department-store chain to invest directly in high-fashion designers. It would also be a first step in a strategy by NRDC to become more of a vertical retailer, owning everything from shopping centers to department stores .
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