Big money is being spent again in the luxury sector. Over the past few weeks, the fashion industry witnessed a raft of investments, mergers and acquisitions, including luxury conglomerate LVMH’s acquisition of a majority stake in streetwear brand Off-White from owner New Guards Group, for an undisclosed sum. It followed the luxury fashion house’s purchase of a minority stake in former Celine creative director Phoebe Philo’s new eponymous brand, announced on 12 July. Elsewhere, the Weston family is understood to be close to launching a formal auction for its department store Selfridges. The sale has been valued at £4bn, and would include the iconic Oxford Street flagship, the Exchange Square outlet in Manchester and Brown Thomas in Dublin. Advisers at investment banking company Credit Suisse will start to send out "information memoranda" – including the company's financial details and its business strengths, imminently.