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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LVMH exits Patou, selling the house back to its former owner
The disposal follows LVMH's sale of Marc Jacobs last year and points to a continued paring back of smaller fashion labels within its portfolio.
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Ferragamo returns to profit as Puig's margins slip
Two European luxury houses posted contrasting first-half results, underlining how cost discipline now matters as much as top-line growth.
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Beiersdorf cuts guidance as Nivea turnaround stalls
The German beauty group is putting more money behind its heritage brand after admitting recovery efforts have not spread widely enough.
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Diageo names new Asia Pacific chief as it looks to steady the region
The Johnnie Walker owner has hired Sujay Wasan to lead a business that has been a persistent source of concern for the drinks giant.
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Dossier names Stefano Curti executive chairman after American Pacific Group buyout
The fragrance brand's new leadership signals a push to professionalise a founder-led disruptor as private equity backs its next phase.
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RNDC bankruptcy filings expose scale of US drinks distribution collapse
Court documents reveal more than $400 million in unsecured debts and raise questions about how long suppliers knew the distributor was in trouble.
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New Look names Lynda Petherick CEO as data and loyalty drive early growth
The British fast fashion retailer's incoming chief inherits a business already showing EBITDA gains from new loyalty and forecasting tools.
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India halts sales of Diageo and Inbrew spirits over flavouring concerns
A regulatory crackdown on artificial flavourings hits major whisky and rum brands at selected production sites, adding fresh friction to India's fast-growing spirits market.
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Poltrona Frau CEO steps down after a decade in charge
Nicola Coropulis is moving from chief executive to a strategic advisory role focused on the Italian furniture group and its Ceccotti Collezioni arm.
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Ferrari to unveil two new models before year end
The Italian marque is pressing ahead with new launches and biofuel testing as it navigates the shift away from pure combustion.
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Met eyes John Galliano retrospective as designer returns to spotlight
A Costume Institute show on John Galliano would cap a remarkable rehabilitation for the designer, who is preparing his first seasonal collection for Zara this autumn.
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Gagosian scales back with exits from Basel and London's Burlington Arcade
The mega-gallery's departure from two locations adds to a summer of real estate downsizing among the art market's biggest players.
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Luxury groups eye second-half rebound as VICs and newness cushion a fragile China
Europe's biggest luxury houses used top clients and product newness to steady the ship in the first half, but China's uneven recovery still clouds the outlook.
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Polène opens Marina Bay Sands store as it deepens Asia push
The French leather goods brand's new Singapore boutique reflects a strategy of consolidation rather than rapid store count growth.
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Saks Global bankruptcy offers a cautionary tale for luxury retail consolidation
A look back at the department store group's collapse underscores the risks of debt-fuelled retail mergers in a shifting luxury market.
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Moschino owner Aeffe fields binding rescue offer from Oxy Capital
The Italian turnaround specialist has emerged as a suitor for the struggling fashion group behind Moschino, teaming with a Chinese industrial partner and Italy's state investment agency.
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Puma's reset continues as sales slide but losses narrow
The German sportswear group reported a second-quarter sales decline even as executives pointed to improving profitability during an ongoing turnaround.
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Moreau Paris finds a French buyer after court-supervised sale
Cardinal Invest, owner of leather goods manufacturer Groupe Lécuyer, has won the bidding process for the storied trunk and leather goods maker Moreau Paris.
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L'Oréal sets multibillion-euro ambitions for Gucci Beauty as beauty M&A heats up
L'Oréal has outlined plans to relaunch Gucci Beauty after gaining early access to the brand's licence from Coty, as Puig posts fragrance-led growth and Elemis reportedly nears a sale to Pai Partners.
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Four Seasons reopens the Danieli in Venice after extensive renovation
The reopening of one of Venice's most storied hotels adds fresh capacity to an ultra-luxury hospitality market already stretched thin in the lagoon city.