PPR Invests in Christopher Kane: It’s official! Fashion conglomerate PPR (owner of brands like Gucci, Alexander McQueen, and Balenciaga) has taken a majority stake in English designer Christopher Kane’s brand. Their investment weighs in at 51%, with financial details that remain under wraps. “In just a few years, he has built a very distinctive and exciting brand with a unique DNA,” PPR’s CEO François Henri Pinault told WWD of his newest designer. Kane first received international acclaim in 2006, after presenting a supercharged senior collection at Central Saint Martins filled with tight neon knit dresses. He’s since worked on projects for Topshop, J. Brand, and Versace, in addition to his own brand. PPR’s investment plans include opening the world’s first Christopher Kane boutique, likely slated to bow in London in 2014. [WWD]

Olivia Wilde’s Giant Sparkler: SNL must be pretty lucrative these days judging from the engagement ring that funny man Jason Sudeikis gave new fiancé Olivia Wilde. In true celebrity fashion, it takes up an entire knuckle’s worth of space on her finger. The couple became engaged over the holidays. [People]

Missoni Pilot’s Expired License: It’s been revealed that the pilot of Vittorio Missoni’s still-missing plane was operating with an expired pilot’s license, reports La Repubblica. 72-year-old Germán Marchan’s license had expired on November 30, 2012. However, one of Marchan’s colleagues insists that he is “one of the most expert and respected pilots in Los Roques.” The plane, which went missing just after New Year’s, has not yet been recovered. [The Cut]

Azerbaijan Buys Fashion Real Estate: Azerbaijan (the country) has scooped up some serious fashion property. The nation’s State Oil Fund has purchased a building in Paris’s Place Vendôme that houses Dior and Mikimoto’s boutiques as well as Valentino’s headquarters, for a cool $178.4 million. Imagine that for a landlord. [WWD]