Briefing
The latest from across luxury business: the moves, deals and numbers that matter, gathered as they break.
This briefing is compiled twice a day using Worthbury's AI agents, finely tuned to meet our editorial standards. While we test and review their work, mistakes can sometimes happen. See exactly how it works.
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Pandora and Hugo Boss reshuffle senior ranks, with Pandora naming Paulo Garcia as CFO and Hugo Boss recruiting Daniel Kearns to head design for Boss by Beckham.
Pandora has appointed a new chief financial officer to succeed Anders Boyer from October, while Hugo Boss has hired Daniel Kearns to lead design for its Boss by Beckham collaboration.
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E.l.f. Beauty lifts its outlook, after Rhode's new range delivered $27 million in DTC sales in one day and $160 million in quarterly sales overall.
Hailey Bieber's Rhode brand generated $27 million in direct-to-consumer sales in a single day, helping push E.l.f. Beauty's quarterly sales up 36% and prompting an upgraded financial outlook.
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Wealthy Californians are applying for New Zealand's investor visa in greater numbers, using it as an insurance policy rather than an immediate relocation.
Applications for New Zealand's investor residency scheme have risen since rules were eased, with wealthy Americans among those seeking a fallback option abroad.
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Rhode banked $27 million in DTC sales in a single day, and is preparing to launch in 19 new countries as it pushes beyond its US direct-to-consumer base.
Hailey Bieber's brand posted a record single-day direct-to-consumer haul and is now plotting expansion into 19 new countries.
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Licensed brand management firms are filling the gap left by private equity, buying up fashion labels that buyout funds no longer want to touch.
With traditional buyout firms pulling back from apparel and accessories deals, brand management companies that license out labels for royalties are stepping up acquisitions.
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Capri Holdings' total revenue fell over 3%,, as a 10% jump at Jimmy Choo could not offset ongoing softness at the larger Michael Kors business.
Capri Holdings reported margin and profit gains even as total revenue slipped, with Jimmy Choo's growth failing to offset continued weakness at its larger Michael Kors label.
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Chanel's first-half revenue rose roughly 16%,, outpacing the wider luxury sector as new designer Matthieu Blazy's debut collections landed with wealthy shoppers.
Wealthy shoppers kept buying into Matthieu Blazy's early tenure as Chanel posted double-digit growth that outstripped larger competitors including LVMH.
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Shanghai's HKRI Taikoo Hui and Plaza 66 are competing on experience,, as operators Swire Properties and Hang Lung Properties look beyond securing top luxury tenants to win over affluent shoppers.
Swire Properties and Hang Lung Properties are competing on destination-driven experiences rather than tenant rosters alone as they vie for affluent shoppers on West Nanjing Road.
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L Catterton has agreed to sell supplement brand Thorne to Procter & Gamble,, a deal worth $3.8 billion that marks a swift and lucrative exit for the LVMH-backed investment firm.
The LVMH-backed private equity firm exits the supplements brand it backed in 2023, handing Procter & Gamble a foothold in the fast-growing wellness category.
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Chanel is reported to have grown revenue by double digits in the first half,, a run reinforced by its continued lead atop Lyst's closely watched brand desirability index.
A Bloomberg report of strong first-half revenue growth at the privately held house coincides with Chanel again topping Lyst's ranking of the hottest fashion brands.
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Capri Holdings trimmed its full-year guidance,, even as first-quarter results for Michael Kors and Jimmy Choo came in ahead of plan.
The Michael Kors and Jimmy Choo owner beat expectations for the quarter just gone but warned that inventory pressures and Middle East disruption will weigh on the rest of its fiscal year.
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Nykaa is buying a 51% stake in skincare brand Aminu for Rs 32 crore, deepening its push into premium beauty as a retailer and owner.
The Indian beauty retailer's acquisition signals continued consolidation of its house-of-brands strategy in the fast-growing premium skincare segment.
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Procter & Gamble is acquiring Thorne for $3.8 billion, expanding its personal health care portfolio into premium supplements and wellness diagnostics.
The deal gives Procter & Gamble a credible foothold in supplements and personalised health as mass-market beauty and household names look to premium wellness for growth.
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Moreau Paris, the historic French leather goods house, has been placed into compulsory liquidation and acquired by Cardinal Invest, bringing it under Groupe Lécuyer's holding company.
The 19th-century leather goods house has been taken over under Groupe Lécuyer's holding structure after financial troubles forced a court-ordered sale.
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Salvatore Ferragamo swung back to profit and grew revenue 4.6%, but its shares fell on a cautious US sales update, while Hugo Boss sales dropped 10% with recovery not expected until 2027.
Two Italian and German fashion houses posted starkly different second quarters, underscoring the widening gap between brands that have stabilised and those still searching for a turnaround.
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Hugo Boss and Zalando's second-quarter results expose the pressure on mid-market fashion, with Hugo Boss deepening its slump and Zalando's organic growth slowing sharply.
Both German fashion groups posted weaker underlying trading in the second quarter, with Hugo Boss extending its sales decline and Zalando papering over slowing organic growth with the About You acquisition.
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Chinese luxury spending is shifting toward prestige beauty, as designer handbags lose ground amid a weaker property market and more price-conscious consumers.
Prestige skincare is gaining ground on designer handbags among Chinese consumers as a prolonged property downturn and weaker confidence sharpen price sensitivity even within the premium tier.
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Campari's first-half profits fell even as organic sales grew, and the spirits group upgraded its full-year margin outlook on tariffs and portfolio streamlining.
Davide Campari-Milano reported lower first-half profits despite organic sales growth, and upgraded its full-year margin guidance on a more favourable tariff environment and portfolio streamlining.
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Turkey's tourism industry lost momentum in the second quarter, with visitor numbers down 5% year on year as the Gulf conflict and high domestic inflation weighed on travel patterns.
Visitor numbers and revenue fell in the second quarter, a signal for luxury hospitality and travel operators exposed to the region.
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Twenty-five states have sued the Trump administration over Section 301 tariffs, arguing the duties rest on a flawed and rushed forced-labour probe.
A coalition of 25 states has filed suit against new Section 301 duties, a challenge with direct consequences for fashion and luxury supply chains.