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Balmain, Iran, Dubai and Lexus – News briefs

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Today in luxury marketing:

Is Valentino buying Balmain?
Valentino is rumored to have made an approach to acquire Balmain, a French newspaper has claimed this weekend. Reports in Les Echos state that the French luxury label has offered $569 million for the much-talked-about brand, helmed by Olivier Rousteing, says British Vogue.