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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Lenskart and Senco Gold post strong India results as demand holds firm
Both companies reported sharp increases in profit and revenue for the quarter, evidence that Indian consumers are still spending on eyewear and jewellery despite higher gold prices.
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Niche fragrance house Vyrao reportedly nears sale completion
The energy-infused scent brand founded by Yasmin Sewell in 2021 is understood to be close to finding a buyer, signalling continued consolidation among independent fragrance labels.
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Simon property group posts strong Q2 as Saks Off 5th exits free up prime space
The mall operator's robust leasing activity signals landlords are using department store contractions to court higher-paying luxury and premium tenants.
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Sotheby's secures $450 million Blaquier collection of Impressionist masterpieces
The Argentine family's trove of Van Gogh, Cézanne and Degas works represents one of the largest single-collection consignments in the auction house's recent history.
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Singapore Airlines nurses roughly S$1 billion loss on its Air India stake
An executive has admitted the timing of the carrier's investment in Air India could hardly have been worse, with further losses forecast.
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Sale of Giorgio Armani Group stake could slip to 2027
Reports suggest the process to sell a stake in the fashion house, as directed by the late designer's will, is taking longer than initially expected amid tough market conditions.
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On Running cuts full-year guidance despite strong quarterly growth
The Swiss sportswear brand trimmed its 2026 outlook and leaned on wholesale management to protect margins, unsettling investors even as sales kept climbing.
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Spinneys makes alternative Europe-UAE freight route permanent after profit rise
The Gulf supermarket operator has locked in a new logistics corridor built during the Iran conflict, crediting it with protecting stock levels and profitability.
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Simon Property set to collect far more rent after Saks Global store exits
The mall landlord is on track to more than double the rent it was owed after Saks Global vacated roughly a million square feet of space and stopped paying.
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Beyoncé buys out LVMH's stake in SirDavis whiskey
The singer takes full ownership of the premium whiskey brand she co-developed with Moët Hennessy, ending the joint venture two years after launch.
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Natura profit slumps 92% as Brazil pressures mount
The Brazilian cosmetics group's second-quarter profit collapsed as weakness in its home market overwhelmed gains in Hispanic America.
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John Lewis managing director Peter Ruis steps down
Ruis exits the British department store group after nearly three years to pursue new projects, handing over to retail veteran Will Kernan.
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Bally enters Swiss restructuring as Regent reaffirms turnaround pledge
The Italian leather goods house is undergoing a court-mediated restructuring in Switzerland amid layoffs and factory closures, even as owner Regent says it remains committed to a long-term turnaround.
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Shein's IPO pitch lands at a fraction of its former valuation
The fast-fashion giant is being marketed to investors at well under $30 billion, underscoring how far its fortunes have fallen since its pandemic-era peak.
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K-beauty broadens its reach as Amouage reports continued sales growth
Korean beauty brands are expanding well beyond skincare and make-up into categories such as menstrual products and fragrance, while niche perfumer Amouage continues to post strong sales gains.
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Amouage posts record first half as regional and product mix broadens
The Omani perfume house reported its strongest first half on record, with retail sales estimated to have climbed sharply year on year.
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Harvey Nichols warns of collapse as Frasers rescue nears
The luxury department store says it will fail without a buyer, with Frasers Group reportedly poised to acquire it in a pre-pack deal.
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DXL board chair steps in as CEO amid takeover pressure
The big-and-tall retailer's leadership shake-up comes as it fields a takeover approach and navigates the impact of weight-loss drugs on its core customer base.
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Kenvue and PZ Cussons post divergent beauty results amid tariff and cost pressures
Kenvue's beauty division grew despite missing overall estimates, while PZ Cussons credited an Africa strategy overhaul for a revenue rise.
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Harvey Nichols warns of administration risk without rescue deal
The British luxury department store group has flagged a going-concern threat after posting a sharply widened loss.