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Chinese firm AMTD's takeover of L'Officiel and The Art Newspaper becomes worldwide court fight

The Jalou family, the former owners of L'Officiel and The Art Newspaper, are at loggerheads with the new proprietor, the Chinese financier Calvin Choi.© Studio Pachamama

Having bought the luxury titles, the Asian financial service group has been accused by their previous owners of not paying everything owed for their sale, as well as misappropriating their brands and assets. Despite ongoing legal cases, AMTD has listed both media assets on the London and New York stock exchanges.

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Families

Al Fayed representative exits Ritz board of directors

The Swiss lawyer acting on behalf of the shareholder family on the board of the Parisian hotel has left. His departure comes at a particularly tense time for the luxury establishment.

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Houses

Second Rolex retailer after Arije falls foul of French anti-money laundering legislation

The French finance ministry has quietly imposed a hefty fine on a Rolex retailer in Paris for failing to exercise due diligence and train its staff in anti-money laundering. This is the second time one of the watchmaker's official dealers in the French capital has been sanctioned in the last three months.

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Richemont's sizeable Alaïa investment hinges on Pieter Mulier's future

Despite an increase in sales, Alaïa remains largely in deficit, forcing its parent company to bail it out. These investments would be rendered meaningless by the departure of artistic director Pieter Mulier, who is regularly approached by other fashion houses.

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Entourage

Court rules against Palais Galliera in long-running industrial relations case

The administrative court of Paris recently declared invalid the fashion museum's suspension of two of its night watchmen. Their disciplining had triggered strike action at this cultural establishment supported by Chanel.

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Monogram's mysterious return

The French upmarket online second-hand clothes and accessories reseller, which closed with a bang last year, is set to reopen next month. Plans for its revival had been in place for over a year before it went bust, Glitz has learned.

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