Briefing
The latest from across luxury business: the moves, deals and numbers that matter, gathered as they break.
This briefing is published daily using an AI-powered system crafted by Worthbury's team and finely tuned to meet our editorial standards. While we continuously test and review the output, mistakes can sometimes happen. Tell us if you spot one.
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Rolex's certified pre-owned programme more than doubles sales
Rolex's official pre-owned scheme has become a significant new growth channel, with sales more than doubling in the first half of the year.
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Coty closes out fiscal year in positive territory, names new CFO
The beauty group beat sales expectations despite the loss of its Gucci fragrance licence and installed Soraya Benchikh as chief financial officer for its next growth phase.
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Puma India pulls back from discounting to chase premium growth
Under new leadership, Puma's Indian arm is closing underperforming stores and prioritising running, hybrid fitness and team sports over the discount-led volume strategy that has weighed on the market.
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LVMH exits Abu Dhabi duty-free as it trims DFS footprint
The luxury group has sold its Abu Dhabi travel retail operations to Miami-based Falic Group, continuing a retreat from parts of the duty-free business.
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Estée Lauder returns to growth as Tom Ford and Jo Malone hit $1bn
The beauty group's turnaround plan has restored sales growth and pushed two more brands past the billion-dollar mark, though the recovery remains fragile.
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Falic Group buys DFS's Abu Dhabi travel retail business
The Miami-based duty-free operator is taking over luxury travel retail at a hub built to handle up to 45 million passengers a year, as DFS retrenches from a fast-growing Gulf gateway.
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Estée Lauder returns to growth as tariff refunds pad the bottom line
The beauty giant posted a 6 percent sales rise in its fiscal fourth quarter, with North America and a Supreme Court-driven tariff refund doing much of the work.
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Dsm-firmenich lines up Richard Ridinger as chair in board reshuffle
The fragrance and flavours group has proposed independent director Richard Ridinger to succeed Thomas Leysen, who is stepping down as chair.
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Frasers Group lifts Hugo Boss stake to 48% despite board's rejection
Mike Ashley's retail group has built a near-majority position in the German fashion house even as management urges investors to reject its cash offer.
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LIV Golf cancels season finale as Saudi funding exit looms
The Saudi-backed golf league has scrapped its Michigan finale and relocated its team championship as it prepares for a future without the kingdom's backing.
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Maybourne names José Silva chairman as luxury hotel group plots next phase
The operator of Claridge's, The Connaught and The Berkeley has brought in one of hospitality's most experienced leaders to chair its board.
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Target ends Ulta partnership, bets on its own Beauty Studio format
The mass retailer is replacing its in-store Ulta shops with a proprietary beauty concept as the prestige beauty distribution map keeps shifting.
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Yusaku Maezawa adds a reported $350m superyacht to his collection
The Japanese billionaire and art collector has taken delivery of a superyacht understood to be valued at around $350 million, extending his run of high-profile trophy acquisitions.
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Sephora reworks loyalty perks as beauty retail competition intensifies
The retailer is leaning on gamified rewards and experiential perks to defend its customer base as omnichannel rivals crowd the beauty aisle.
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Chelsea shareholders Walter and Boehly in talks to sell stakes to Clearlake
A potential ownership shift at Chelsea Football Club points to wider strains in the private capital consortium that bought the Premier League side.
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Strait of Hormuz crossings fall as ceasefire lapses, raising costs for luxury supply chains
Major ocean carriers continue routing around the Gulf chokepoint as the expiry of the US-Iran ceasefire pushes fuel and logistics costs higher.
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PIF's contribution to Saudi non-oil economy climbs sharply
Saudi Arabia's Public Investment Fund now accounts for a growing share of the kingdom's non-oil GDP as it deepens both domestic and international investment.
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Shein targets around $25 billion valuation for Hong Kong listing
The fast-fashion giant is reportedly pressing ahead with a Hong Kong IPO this week after London and New York listing efforts stalled.
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Tapestry lifts outlook as Coach powers through, Kate Spade lags
Coach's continued strength with both affluent and younger shoppers is offsetting a persistent drag from Kate Spade, as Tapestry raises its annual forecast.
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Ferragamo unveils renovated Rodeo Drive flagship under new design language
The Italian house has reopened its Beverly Hills flagship as the first major expression of a global retail aesthetic developed with architect Vincent Van Duysen.