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News briefs

Day’s wrap: Moët Hennessy, Valentino, Harper’s Bazaar, Sotheby’s and Louis Vuitton

February 22, 2021

Jay-Z has sold a 50 percent stake of his Champagne brand to LVMH. Image credit: Armand de Brignac Champagne


Luxury Daily’s live news for Feb. 22:

Moët Hennessy takes 50pc stake of Jay-Z’s Ace of Spades
French luxury conglomerate LVMH’s wine and spirits division Moët Hennessy has acquired a 50 percent stake in Champagne brand Armand de Brignac, owned by rapper and entrepreneur Shawn Jay-Z Carter, as it looks to appeal to a more diverse and global luxury consumer.

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Valentino hit with $207M lawsuit after breaking lease
Italian fashion house Valentino is facing a $207 million lawsuit after breaking the lease for its Fifth Avenue flagship.

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Harper’s Bazaar, Esquire to launch in Saudi Arabia
Hearst titles Harper’s Bazaar and Esquire will be debuting seasonal editions in Saudi Arabia, becoming the first international luxury and fashion magazines published within the kingdom.

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Sotheby’s auctioning autographed RED LV trainers
Auction house Sotheby’s is partnering with Louis Vuitton men’s artistic director Virgil Abloh for a single lot event benefitting AIDS nonprofit RED.

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Retailers must improve online returns, data security to build trust
With the surge of online and mobile shopping, retailers must make sure to deliver quality shopping experiences that build trust and loyalty with consumers.

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