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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Beyoncé now owns SirDavis American Whisky outright, buying out the stake held by LVMH's Moët Hennessy since the brand's launch.
The singer has bought out Moët Hennessy's stake in the American whisky brand she co-founded, taking sole control of the label.
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SMCP sales rose 2% in the second quarter, with US momentum and an early China recovery offsetting a still-soft French market.
The Sandro and Maje owner posted a second-quarter sales rise as a leaner store network and full-price discipline lifted margins.
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RNDC has filed for Chapter 11 bankruptcy, capping months of asset sales as the US drinks distributor seeks buyers for its remaining operations.
One of America's largest wine and spirits distributors has entered bankruptcy protection after months of selling off operations, seeking buyers for what remains of the business.
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LVMH's first-half results show watches, jewellery and a Cognac rebound doing the heavy lifting, while Unilever's beauty and wellbeing arm delivered its strongest half in ten years after shedding its food business.
LVMH's watches and jewellery and cognac businesses stabilised in the first half while Unilever posted its best first-half performance in a decade, but the drivers behind each are very different.
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Louis Roederer has entered Burgundy for the first time, acquiring Domaine Pierre Damoy and its Côte de Nuits grand cru vineyards as the Champagne house turns 250.
Champagne house Louis Roederer has made its first move into Burgundy, acquiring grand cru vineyards in the Côte de Nuits as it marks its 250th anniversary.
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Brown-Forman has turned down a reported $15 billion approach from Sazerac, as the US spirits industry grapples with distributor strain and soft demand.
Brown-Forman has rejected a takeover proposal from rival Sazerac, reportedly valuing the Jack Daniel's owner at around $15 billion.
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Skims has opened a 12,000 square foot flagship on London's Regent Street, its first UK standalone store, as fans speculate the brand is teasing a return to beauty.
Kim Kardashian's Skims has opened its first UK standalone store, a 12,000 square foot flagship on Regent Street, as the brand also hints at reviving its beauty line.
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Johnson & Johnson has agreed to pay $5.5bn to settle claims from about 76,000 plaintiffs, who alleged its talc-based products caused ovarian cancer.
The healthcare group has settled US litigation from roughly 76,000 plaintiffs who claimed its talcum powder products caused ovarian cancer.
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Revolut has received UAE regulatory approval for accounts, cards and international transfers, alongside preliminary clearance for cryptocurrency services, as it deepens its push into the Gulf.
The London-headquartered fintech has won regulatory approvals to offer accounts, cards and money transfers in the UAE, with crypto services approval also in progress.
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LVMH's fashion and leather goods division returned to growth in the second quarter, ending seven consecutive quarters of decline, with Dior singled out as central to the turnaround.
Organic sales at LVMH's fashion and leather goods division turned positive in the second quarter, with Dior cited as a driver of the recovery.
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Two structural shifts are reshaping luxury's competitive map, as brand managers take over fashion dealmaking from private equity and jewellery becomes the metric investors watch most closely.
A new dealmaking report and mounting industry data point to two parallel shifts in luxury: brand-management firms are stepping into M&A as private equity retreats, and jewellery is emerging as the key differentiator between winning and losing luxury groups.
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Binghatti's profit surged past $800m in the first half, as the Dubai developer benefited from new launches and the handover of close to 1,700 units.
The Dubai luxury property developer reported a sharp rise in profit and revenue in the first half of the year, driven by new project launches and the handover of nearly 1,700 units.
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Harvey Nichols bidders face a costly condition, with reports suggesting suitors must commit as much as £60 million in transformation funding on top of any acquisition price.
Bidders for the British luxury department store are being asked to pledge tens of millions in fresh investment alongside the purchase price, underlining how much rebuilding the business needs.
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LVMH's fashion and leather goods division grew again, ending a near two-year slump as Dior recovered and US shoppers spent, even as Europe and the Gulf lagged.
LVMH's largest division returned to positive sales growth for the first time in nearly two years, with jewellery and US demand offsetting softness in Europe and the Gulf.
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A fresh US tariff wave targets 60 countries, over forced-labour enforcement, with FashionNetwork reporting more actions are coming.
Washington's latest duties, tied to forced-labour enforcement claims, are the first of more actions expected, with implications for luxury sourcing.
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Rolex's move into certified pre-owned is reshaping resale, with dealers reporting share losses offset by a bigger overall market, according to Glossy.
Dealers say Rolex's certified pre-owned programme has taken share but expanded the overall pool of secondhand buyers.
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CitizenM's Marriott integration reaches its first anniversary, with real distribution gains offset by the harder question of growth beyond its founding backer.
A year after selling to Marriott, the hip hotel brand is absorbing corporate audits and a new guest base while its original owner watches whether growth can happen without dilution.
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Explora Journeys has taken delivery of its largest ship to date, a signal that MSC's luxury cruise venture is pressing ahead with expansion despite a crowded premium segment.
The delivery of Explora Journeys' largest vessel yet marks a fresh test of demand at the top of the cruise market.
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The US has returned Scotch whisky to tariff-free trading, a move hailed by Scotland's first minister and the wider spirits industry as a significant relief.
Scotch whisky returns to tariff-free trading with the United States, a reprieve welcomed across the drinks industry after a prolonged period of duties.
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Zegna's first-half revenue rose 9.3% organically, to €987.3 million, as the menswear group continues to outperform a soft luxury market.
The Milan-listed group's first-half revenue climbed to €987.3 million, bucking the wider slowdown in luxury spending.