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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Pandora names new CFO as Hugo Boss recruits design chief for Beckham line
Pandora has appointed a new chief financial officer to succeed Anders Boyer from October, while Hugo Boss has hired Daniel Kearns to lead design for its Boss by Beckham collaboration.
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E.l.f. Beauty raises outlook as Rhode's DTC debut stuns
Hailey Bieber's Rhode brand generated $27 million in direct-to-consumer sales in a single day, helping push E.l.f. Beauty's quarterly sales up 36% and prompting an upgraded financial outlook.
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California's wealthy are buying New Zealand golden visas as a hedge
Applications for New Zealand's investor residency scheme have risen since rules were eased, with wealthy Americans among those seeking a fallback option abroad.
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Rhode's $27 million day signals the ceiling for celebrity beauty is still rising
Hailey Bieber's brand posted a record single-day direct-to-consumer haul and is now plotting expansion into 19 new countries.
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As private equity retreats from fashion, licensing groups become the buyers of last resort
With traditional buyout firms pulling back from apparel and accessories deals, brand management companies that license out labels for royalties are stepping up acquisitions.
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Jimmy Choo lifts Capri as Michael Kors keeps dragging
Capri Holdings reported margin and profit gains even as total revenue slipped, with Jimmy Choo's growth failing to offset continued weakness at its larger Michael Kors label.
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Chanel outpaces luxury rivals with 16% sales growth
Wealthy shoppers kept buying into Matthieu Blazy's early tenure as Chanel posted double-digit growth that outstripped larger competitors including LVMH.
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Shanghai's luxury mall rivalry moves beyond tenants to experience
Swire Properties and Hang Lung Properties are competing on destination-driven experiences rather than tenant rosters alone as they vie for affluent shoppers on West Nanjing Road.
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L Catterton sells Thorne to P&G in $3.8 billion deal
The LVMH-backed private equity firm exits the supplements brand it backed in 2023, handing Procter & Gamble a foothold in the fast-growing wellness category.
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Chanel posts double-digit growth as it retains top spot in brand rankings
A Bloomberg report of strong first-half revenue growth at the privately held house coincides with Chanel again topping Lyst's ranking of the hottest fashion brands.
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Capri Holdings cuts outlook despite stronger first quarter
The Michael Kors and Jimmy Choo owner beat expectations for the quarter just gone but warned that inventory pressures and Middle East disruption will weigh on the rest of its fiscal year.
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Nykaa takes majority stake in premium skincare brand Aminu
The Indian beauty retailer's acquisition signals continued consolidation of its house-of-brands strategy in the fast-growing premium skincare segment.
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P&G buys Thorne for $3.8 billion, doubling down on premium wellness
The deal gives Procter & Gamble a credible foothold in supplements and personalised health as mass-market beauty and household names look to premium wellness for growth.
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Moreau Paris falls into compulsory liquidation, rescued by Cardinal Invest
The 19th-century leather goods house has been taken over under Groupe Lécuyer's holding structure after financial troubles forced a court-ordered sale.
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Ferragamo returns to profit as Hugo Boss keeps sliding
Two Italian and German fashion houses posted starkly different second quarters, underscoring the widening gap between brands that have stabilised and those still searching for a turnaround.
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Hugo Boss and Zalando show the strain in mid-market fashion
Both German fashion groups posted weaker underlying trading in the second quarter, with Hugo Boss extending its sales decline and Zalando papering over slowing organic growth with the About You acquisition.
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China's luxury spending tilts from bags to beauty
Prestige skincare is gaining ground on designer handbags among Chinese consumers as a prolonged property downturn and weaker confidence sharpen price sensitivity even within the premium tier.
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Campari profits fall but group upgrades full-year margin outlook
Davide Campari-Milano reported lower first-half profits despite organic sales growth, and upgraded its full-year margin guidance on a more favourable tariff environment and portfolio streamlining.
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Turkey's tourism sector loses momentum as Gulf conflict and inflation bite
Visitor numbers and revenue fell in the second quarter, a signal for luxury hospitality and travel operators exposed to the region.
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States sue Trump administration over Section 301 tariffs on trade partners
A coalition of 25 states has filed suit against new Section 301 duties, a challenge with direct consequences for fashion and luxury supply chains.