behind the deal, kenny dichter, robby cochran, chairman and ceo of aspirational and former chairman lvmh south and southeast asia. seems like a great partner, kenny. welcome. in terms of expanding the brand in terms of luxury, what a great partner but also coming with lvmh experience. kenny, how long has it been? you used to come on the show and you were a marquee jet guy >> joe, on august 1st, 2013, i was right there on the set we weren't at home, but i was on the set and we announced wheels up it's 7 1/2 years to the day. "squawk" has been a great partner as we've announced some great things i know, joe, you were there for justify and american pharoah we got tom brady in the big game tom we've been flying since game one. it's a great day and a testament to all the people working with us at wheels up and couldn't be more proud to have robby as our partner. >> robby, it could -- you could theoretically move this into -- are you talking about -- you tell me, what other areas are we talking about with the wheels up brand that would work globally >> with my 20 years at lvmh and a dozen year

lvmh having led the pack in terms of reporting set the bar high.tunately gucci cannot clear it. some of this was a result of self-inflicted wounds such as a strategic decision to under emphasize wholesales which is long-term a good move but it hurt the company a lot in the short term. guy: in terms of gucci, it is 100 years, the anniversary coming up. can they make something of that. will that provide a more positive tailwind for 2021 and how big would it be? >> that is the messaging around what is being planned for 2021, the centennial celebration, they're planning a lot of events and it is a question of how to reengage the consumer wants the stores reopened into a more immersive customer experience. last year was the industry -- engagement with the local european consumer was another region for the wide gap between its performance. i think that is another thing they have in mind for this year is to commit to and engage for the local european consumer cohort. alix: here in the u.s., midtown is a wasteland, but if you go out to brooklyn where i liv

lvmh has agreed to buy birkenstock. birkenstock did not disclose details. reported the deal would value the company at about $4.9 billion. global news 24 hours a day, on air and on quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am emma chandra. this is bloomberg. ♪ ♪ >> in the longer-term, we must pursue trade policies that advance the interests of all americans. policies that recognize that people are workers and wage earners, not just consumers. policies that promote broad, equitable growth here at home, policies that support american innovation and enhance our competitive edge. jonathan: that was the u.s. trade representative nominee from new york city. here is the price action this friday morning. the s&p 500, big losses yesterday across the board, the nasdaq on the week getting hammered. in the bond market, the bid is back in. down five basis points, 10-year 1.47. lisa: pacing pgim. when do we hear from them? jonathan: i am waiting for the call. lisa: we will keep mentioning them until they come on the show.

the label debuting two years ago through french company lvmh behind brands like louis vuitton and dior, but don't think the singer is sending out an s.o.s. they plan to focus on her other interests cosmetics and cologne and lingerie just in time for valentine's day, of course. >> i just want a heart shaped [ inaudible ]. thanks, marcus. >>> new this morning, you may notice something missing the next time you're at san francisco's palace of fine arts. two of the resident swans are being taken care of at the zoo. palace workers posted this photo to twitter yesterday. care takers noticed blanch, the 25-year-old white footed polish mute swan was having problems a few weeks ago. her companion a 14-year-old swan named blue boy joined her at the zoo on tuesday as a precaution and maybe to provide comfort. wow. who knew blanch was a cougar with blue boy. >> hello. >> oh, my goodness. let's talk to kari. good morning, kari. >> good morning. we're starting out with some clouds and we're getting ready for some rain. that's set to move in later today. right now tracking spotty light showers starti

since the retail staff at tiffany's have worked through the pandemic, lvmh saying that management andnhattan's office vacancy rate now at the highest on record at over 15%, and the leases in january fell by 47% over last year so dom, a long way to go here on the occupancy side, even when workers start coming back. >> so let's kind of focus on the occupancy side we know how bad it's been for certain metro areas. people are moving to the suburbs. i'm suburb guy i have seen the real estate market in my neighborhood surge over the last year when it comes to space about those leases are companies actually giving up their space are they moving, getting out of the city, how exactly are they dealing with all of that empty floor space that they have in manhattan and elsewhere? >> right now since a lot of these leases are long-term leases, many of them ten years, it's really tough to get out so what you're seeing is a lot of companies trying to negotiate, trying to get out, looking in new jersey, and so far you haven't seen a mass exodus, simply because those contracts are pretty iron tight. wh

. >> this is like lvnh >> lvmh doing an acquisition of belmond, experience of the consumer, really lookingin-a-lifetime experiences, joining the club of having travel to space and what that means post-purchase and for your friends and family, these are all big opportunities. and space is the ultimate dream. it's the ultimate experience and it's a scarce opportunity that will transcend, you know, psychological and opportunities and it will be a very special experience that is one way to think about it in terms of the future and what's happening that being said, there's a lot of science and logistics and safety and integrating this together is quite interesting and creative and powerful. and bringing this capital to make this happen is an entrepreneurial feat >> all right oliver, great speaking with you. thank you so much. oliver chen. part of the space port sort of argument, pomp just quickly, we've got 15 seconds. if you're going to bring your friends and family along, you're going to go to space and you want your wife to come along with you and experience some of that i think that's inter

lvmh shares are up 30% percent -- 30% in the last year. well, we just saw gucci idea, wearing shorts with loafers and white sox which obviously is wrong in so many different ways. i know fashion designers probably think they can get attention by doing the most ridiculous things but that is just not acceptable. are the other luxury retailers doing it right? albertina: i think the pandemic clearly has people thinking more. they can't go out so it is not a matter of having money to spend. it is called consolation spending. the affluent clients can no longer travel, go out for dinner, so they are spending a lot, but they are thinking more about what they buy so for example, they are investing in items that will last all their lives. one example i get often when i talk to investors are bags. they cost a fortune but will always be valuable. a lot more thinking may be on what people buy and they are not chasing the latest fad because the context is different right now. matt: you don't want to buy something disposable when you have time to really

rihanna and lvmh are suspending the ready-to-wear operations after the singer's fenty brand less thanrs after its launch. they blame the fallout from the coronavirus and say they hope it will return when conditions improve. fenty arrived in may 2019 to great fanfare. paul: still to come, toy sales had record sales in 2020 p can the momentum be sustained? and the fed will blink sooner or later on inflation. more on that at the top of the hour. marcus would've been open in tokyo and seoul. it is a holiday. we are open in sydney. details in a moment. this is bloomberg. ♪ shery: welcome to "daybreak: asia from bloomberg's headquarters i am shery ahn. paul: i am paul allen in city. our top stories, president biden prepares to speak to xi jinping since the first time -- for the first time since taking office. he comes over trade and technology and geopolitics. -- a societywide place to live a societywide push deliver full appointment. it warns the u.s. job market remains a long way from full recovery. the pandemic hit holiday season as been good for mattel: it says the strength of the toy m

check out shares of lvmh this morning.'re watching "squawk box" and this is cnbc to defend against dark forces attacking your organization, you need to see in the dark. to have the wisdom to understand multiple cyber threats. the precision focus to end attacks instantly. on computers, mobile devices, servers and the cloud. join the world's leading companies in our mission to defend. cybereason. end cyber attacks. from endpoints to everywhere. >>> welcome back, everybody. this morning moett hennessy is going to get a stake in jay z's champaign. joining us right now with more on the deal is music mogul shawn jay z carter and philippe who is the ceo of moet. welcome to both of you this morning. it's really great to see you on the news of this deal. >> thank you. >> jay z, i was hoping we could start with you good morning, good morning to both of you. jay z, i know you are incredibly particular about how you do things you don't do things the easy way. you do things the way you think they're going to have the best results. why