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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China's luxury market recovery turns slower and more selective
After tripling in five years and then contracting through pandemic lockdowns and a property downturn, China's luxury sector is settling into a more modest, discernment-led growth pattern.
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Lululemon's AI chief departs as analysts flag executive turnover concerns
The exit of Lululemon's head of AI, less than a year into the role and a month before new chief executive Heidi O'Neill starts, has heightened analyst worries about leadership stability at the athleisure group.
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China's luxury shopper returns, but changed
A recovering Chinese luxury market is rewarding brands that adapt to more cautious, value-conscious spending rather than assuming a return to pre-pandemic habits.
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Birkenstock's CEO bets on ballet flats as a multi-year growth driver
Oliver Reichert says the ballerina trend, sparked by the brand's Repetto collaboration, has years of runway left as it expands into mary janes.
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Depop leans on music partnerships to prove its worth inside eBay
The resale platform's first campaign under new ownership doubles down on the artist-led strategy that built its following.
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Frasers Group buys Harvey Nichols out of insolvency
The Sports Direct owner beat Next to acquire the storied British department store chain after it collapsed into insolvency.
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Speculation mounts over a possible Richemont sale of Panerai
A record jump in secondary watch market values has revived questions about the future of Richemont's smaller maisons.
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Secondary watch market rebounds, but Panerai is left behind
A rebound in pre-owned watch prices is lifting Cartier and Vacheron Constantin, while Panerai's bulkier timepieces are failing to find buyers.
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Tapestry's Coach engine pushes annual sales past $8 billion
Coach's turnaround has driven Tapestry to hit a three-year revenue target a year early, underscoring how handbag repositioning can outrun broader market softness.
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Swarovski chief flags rise in women buying their own diamonds
Cheaper lab-grown stones are widening access to diamond jewellery and accelerating a shift towards self-purchase among women, Swarovski's chief executive told the Financial Times.
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Blue Elephant lands in the US with fresh funding and a Beverly Hills flagship
The South Korean eyewear brand has raised fresh capital to back its first American store, signalling ambitions to build a global presence beyond Asia.
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Peninsula Hotels operator swings back to profit as luxury travel recovers
Hongkong and Shanghai Hotels posted a first-half profit against a year-ago loss, a marker of how far global luxury travel demand has rebounded.
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Pandora raises 2026 guidance as new ranges drive growth
The Danish jewellery group lifted its full-year outlook after second-quarter organic revenue rose 3 percent on the strength of its Fuel With More product push.
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Harrods returns to profit but stays cautious on outlook
The London department store swung back into the black in its latest financial year after a prior period hit by significant one-off costs, though management remains wary about what lies ahead.
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McLaren creates chief creative officer role, hires David Woodhouse
The supercar maker has added a newly created executive position to sharpen its design and brand identity as competition in ultra-luxury performance cars intensifies.
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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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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.