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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Nike hires Walmart executive as chief commercial officer, months after cutting the role
Nike has reinstated a senior commercial post it eliminated only months earlier, recruiting from Walmart in a sign of how seriously it is treating its retail and wholesale turnaround.
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Bath & Body Works cuts guidance as sales slide continues
A second straight quarter of declining sales has pushed the personal care retailer to lower its full-year outlook, adding to signs of pressure in mid-market beauty.
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ADQ unit moves to take AD Ports fully private
A cash offer to buy out remaining shareholders would hand Abu Dhabi's sovereign investment arm complete control of one of the region's key logistics platforms.
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Authentic Brands takes majority stake in Drake's OVO
The licensing group's deal with the rapper's lifestyle label signals fresh confidence in celebrity-founded brands as a durable asset class.
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Selfridges CEO André Maeder sets out his strategy for the department store
In a rare on-record interview, the head of Selfridges discusses how the retailer is positioning itself as department stores worldwide fight for relevance.
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Sauvereign turns to Zeng Fanzhi to push art-led collectibles into new territory
The Hong Kong jewellery house is betting that a partnership with one of China's most valuable living artists can deepen its standing with collectors of fine objects and immersive retail experiences.
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Yayoi Kusama, whose dots redefined luxury collaborations, dies at 97
The Japanese artist's death closes a chapter that shaped how brands from Louis Vuitton to fine jewellers use art partnerships to build cultural cachet.
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Taj parent IHCL moves to take full control of Oriental Hotels
The Tata-owned hospitality group's push for complete ownership of its Chennai-listed unit is about corporate tidying and future expansion rather than an immediate windfall.
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Swatch wins $11.6 million from Samsung over copied smartwatch faces
A London court found Samsung unlawfully hosted copied watch face designs from luxury brands on its smartwatch platform.
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Italicus founder steps down as Pernod Ricard takes full control
Giuseppe Gallo has left the CEO role at the Italian liqueur brand he founded, as Pernod Ricard completes its acquisition of full ownership.
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Lanvin Group's revenue slide continues despite turnaround talk
The Shanghai-backed fashion group reported a further double-digit drop in first-half revenue even as management points to improving momentum.
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LVMH pulls a Balenciaga executive into its beauty command structure
Alexandre Oulès moves from Balenciaga to become chief operating officer of LVMH's beauty division, reinforcing the leadership team built around Véronique Courtois.
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Nyakio Grieco takes back Thirteen Lune and pushes into South Africa
The beauty entrepreneur has reacquired the inclusive beauty retail platform she founded and is opening an international expansion route through a partnership with South African e-commerce group Takealot.
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Target bets on its own prestige beauty studio after the Ulta split
Target is launching a reimagined beauty destination across more than 600 stores next month, betting it can hold prestige beauty shoppers without its former Ulta partnership.
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Soaring gold prices push Indian households to sell old jewellery
Record gold prices are driving a wave of household jewellery liquidation in India, pulling a traditionally informal trade into organised retail.
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Luxury faces a reckoning with China's secondhand boom
As China's two-decade luxury spending surge cools, brands are being urged to engage with the country's fast-growing resale market rather than resist it.
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Canada hits back with matching tariffs on US apparel
Ottawa's dollar-for-dollar retaliation against new US duties threatens to raise costs and complicate sourcing for fashion brands trading across the border.
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Dick's warns on consumer caution as Foot Locker integration bites
Shares in Dick's Sporting Goods fell after the retailer told analysts that shoppers are pulling back amid geopolitical unease, adding pressure to its recently acquired Foot Locker business.
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Shein's Hong Kong IPO filing puts growth ahead of sustainability pledges
An analysis of the fast-fashion giant's listing prospectus finds technology and scale prioritised over environmental and social commitments, a signal worth watching as Shein courts public markets.
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Strike ballot opens at Diageo's Cameronbridge distillery
Unite the union is balloting around 100 workers at Diageo's Cameronbridge distillery over a labour dispute, a flashpoint for the drinks giant as it navigates cost pressures across its Scotch whisky operations.