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.
-
LVMH has sold Patou back to businessman Dilesh Mehta, who held a stake in the French house before LVMH's 2018 investment, completing a full exit from the label.
The disposal follows LVMH's sale of Marc Jacobs last year and points to a continued paring back of smaller fashion labels within its portfolio.
-
Salvatore Ferragamo returned to net profit in the first half, even as sales fell in Europe and Asia, while Puig grew revenue but saw profit decline 4.4%.
Two European luxury houses posted contrasting first-half results, underlining how cost discipline now matters as much as top-line growth.
-
Beiersdorf has cut its sales guidance, saying Nivea's turnaround remains too isolated, and will invest an additional €100 million in brand activations.
The German beauty group is putting more money behind its heritage brand after admitting recovery efforts have not spread widely enough.
-
Diageo has appointed Sujay Wasan to lead its Asia Pacific business, a region that has weighed on the group's recent performance.
The Johnnie Walker owner has hired Sujay Wasan to lead a business that has been a persistent source of concern for the drinks giant.
-
Dossier gets a heavyweight chairman., as American Pacific Group installs Stefano Curti following its acquisition of the fragrance brand.
The fragrance brand's new leadership signals a push to professionalise a founder-led disruptor as private equity backs its next phase.
-
RNDC's collapse runs deeper than expected., with court filings showing over $400 million in unsecured debts and scrutiny of suppliers who cut ties late.
Court documents reveal more than $400 million in unsecured debts and raise questions about how long suppliers knew the distributor was in trouble.
-
New Look has a new CEO., with Lynda Petherick taking over as data capture and loyalty investment lift first-quarter earnings.
The British fast fashion retailer's incoming chief inherits a business already showing EBITDA gains from new loyalty and forecasting tools.
-
India has pulled Diageo and Inbrew spirits from shelves., after the food safety regulator found artificial or nature-identical flavourings in several popular whiskies and rums.
A regulatory crackdown on artificial flavourings hits major whisky and rum brands at selected production sites, adding fresh friction to India's fast-growing spirits market.
-
Poltrona Frau's long-serving boss exits the top job, moving into an advisory post overseeing brand development at Poltrona Frau and Ceccotti Collezioni.
Nicola Coropulis is moving from chief executive to a strategic advisory role focused on the Italian furniture group and its Ceccotti Collezioni arm.
-
Ferrari confirms two new models by year end, alongside early biofuel testing as it hedges its powertrain strategy.
The Italian marque is pressing ahead with new launches and biofuel testing as it navigates the shift away from pure combustion.
-
The Met is reportedly planning a John Galliano retrospective, timed to a broader comeback that now includes a mass-market collection for Zara.
A Costume Institute show on John Galliano would cap a remarkable rehabilitation for the designer, who is preparing his first seasonal collection for Zara this autumn.
-
Gagosian is exiting its Basel space and its Burlington Arcade location in London, part of a wider pullback in gallery real estate this summer.
The mega-gallery's departure from two locations adds to a summer of real estate downsizing among the art market's biggest players.
-
Europe's luxury majors head into H2 leaning on VICs and newness, with China still the swing factor in the rebound story.
Europe's biggest luxury houses used top clients and product newness to steady the ship in the first half, but China's uneven recovery still clouds the outlook.
-
Polène has opened a store at Marina Bay Sands in Singapore, extending its Asia footprint as it enters what its chief executive calls a phase of consolidation.
The French leather goods brand's new Singapore boutique reflects a strategy of consolidation rather than rapid store count growth.
-
Saks Global's bankruptcy is being read across the industry as a case study in the dangers of leveraged consolidation without a clear operating fix.
A look back at the department store group's collapse underscores the risks of debt-fuelled retail mergers in a shifting luxury market.
-
Aeffe, parent of Moschino,, has received a binding takeover offer from turnaround investor Oxy Capital, backed by a Chinese industrial partner and Italy's Invitalia.
The Italian turnaround specialist has emerged as a suitor for the struggling fashion group behind Moschino, teaming with a Chinese industrial partner and Italy's state investment agency.
-
Puma's second-quarter sales fell 9.4%, but the company said losses narrowed as its turnaround plan continues to take hold.
The German sportswear group reported a second-quarter sales decline even as executives pointed to improving profitability during an ongoing turnaround.
-
Moreau Paris, the historic French trunk and leather goods maker, has a new owner in Cardinal Invest after a court-supervised sales process.
Cardinal Invest, owner of leather goods manufacturer Groupe Lécuyer, has won the bidding process for the storied trunk and leather goods maker Moreau Paris.
-
L'Oréal wants to make Gucci Beauty a multibillion-euro brand, as Puig's fragrance strength offsets a soft skincare quarter and Elemis reportedly nears a sale to Pai Partners.
L'Oréal has outlined plans to relaunch Gucci Beauty after gaining early access to the brand's licence from Coty, as Puig posts fragrance-led growth and Elemis reportedly nears a sale to Pai Partners.
-
The Danieli reopens on Venice's Riva degli Schiavoni, giving Four Seasons a marquee address in one of Europe's tightest luxury hotel markets.
The reopening of one of Venice's most storied hotels adds fresh capacity to an ultra-luxury hospitality market already stretched thin in the lagoon city.