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For the Luxury Crowd, SPACs and Suits Are So This Season

LVMH and Zegna are striking deals to reposition themselves for a post-pandemic world. They offer a window into the changing business of bling.

Where’s your suit?

Where’s your suit?

Photographer: Pascal Le Segretain/Getty Images Europe

Luxury deals are so this season.

On Tuesday, LVMH Moet Hennessy Louis Vuitton SE, the world’s biggest luxury company, said it would buy 60% of Off-White, the streetwear label founded by Virgil Abloh, the creative director of Louis Vuitton’s menswear line.