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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US-Canada tariff deadline lapses without a deal, leaving fashion exposed
Marathon talks failed to produce a resolution before steep new US tariffs on Canadian goods were due to take effect, adding fresh cost pressure across cross-border supply chains.
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Sabyasachi widens category push to become a global luxury lifestyle brand
The Indian couturier is moving into fragrance, footwear and small leather goods while expanding eyewear, extending its ambitions well beyond its bridal and ready-to-wear roots.
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Panama Canal cuts daily transits again as drought risk returns
The Panama Canal Authority will trim daily crossings from 36 to 32 in September, reviving supply chain risks that hit luxury and other high-value shipments during the 2023-24 drought.
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Ross overtakes TJX in off-price comparable sales race
Ross Stores posted a sharp jump in comparable store sales in its latest quarter, outpacing rival TJX and underscoring how value-seeking shoppers are reshaping retail even at the upper end.
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Roots agrees to go private in Marquee Brands deal
The Canadian outdoor and lifestyle retailer will be acquired by the parent company of Roberto Cavalli, in a deal pitched as protecting its national identity.
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Founder sentenced to five years over $300mn fraud
Christine Hunsicker, founder of the fashion rental start-up once valued highly by investors, has been sentenced to prison after a court accepted a head injury contributed to her crime.
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Coty names new CFO as it navigates a rocky quarter
The beauty group has appointed Soraya Benchikh as chief financial officer alongside a weak quarterly update, adding finance leadership to an already reshaped executive team.
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Swiss watch exports climb again in July
A 9.6% jump in July shipments pushes the seven-month tally back into growth, a signal that demand for Swiss horology is stabilising after a bruising stretch.
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Marquee Brands moves on Roots in take-private deal
The brand management firm is acquiring the Canadian outdoor lifestyle retailer at $4.10 a share, handing operations to Club Monaco and Joe Fresh founder Joe Mimran.
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China's wealth tax push deepens the luxury sales slump
A crackdown on offshore wealth is rippling through China's luxury spending, adding a new structural drag to a market brands had hoped was stabilising.
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Louis Vuitton enters the automotive world with a Porsche 911 collaboration
The French house has restored a pair of Porsche 911s with Singer, its first cobranded product and a signal of how far its métiers can stretch beyond leather goods.
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Coty sets 2028 growth target as it navigates the Gucci beauty handover
Interim chief executive Markus Strobel used an earnings call to lay out how Coty plans to grow its portfolio through 2028 as Gucci Beauty's licence moves to L'Oréal in 2027.
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China and Switzerland strike trade deal cutting tariffs on Swiss exports
A new accord scraps most levies on Swiss goods entering China, a move that stands to benefit Switzerland's watch and luxury export sectors as Beijing courts closer European ties.
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US demand lifts Swiss watch exports as Asia stays weak
Swiss watchmakers leaned harder on American buyers in July as key Asian markets continued to lag.
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Coty's weak quarter and Estée Lauder's make-up reset frame a tough beauty market
Coty withheld its annual forecast after a soft quarter, while Estée Lauder's chief executive laid out plans to fix lagging make-up sales and lean further into China.
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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.