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Tea sets for the super-riche at the Japan Store, which sells Japanese imports from the country's largest department store group.
The increase will only heighten speculation about the long-term future of the department store group.
That only heightened speculation about the long-term future of the department store group.
Mr Pinault has the Printemps store group, Chateau Latour and Christie's auction house.
The department store group will start a search for a new chief executive.
However, Marty Wickstrom, former president of Nordstrom's full-line store group, replaced him.
Similar(5)
Last autumn it bought Denmark's Magasin du Nord department-store group.
America's biggest department-store group, Sears Holdings, is one of its sickest.
The in-store group will be headed by William Kolb as chief executive; he had most recently been president at International Marketing Services in New York.
Galen Weston, a Canadian retailing billionaire whose bid for Selfridges, a posh London department-store group, was accepted this week (though others may still try to top it), is no Prince Charles.
Baugur then upped its offer to £58.7m.Debenhams, a British department-store group, said that another suitor had emerged to rival Permira, an investment firm that is mulling an offer of around £1.5 billion ($2.5 billion).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com