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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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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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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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.
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Louis Vuitton pairs Pat McGrath with Nicolas Ghesquière for first beauty collaboration
The house's La Beauté line will carry its Monogram canvas for the first time, marking a new push in colour cosmetics.
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Ulta pushes deeper into clinical hair care with two new launches
The retailer is adding a dandruff specialist and a prestige scalp-care brand as it bets shoppers will trade up for solution-based hair treatments.
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Under Armour bets on scarcity as it chases full-price sales
Chief executive Kevin Plank is steering the sports brand away from volume towards fewer, higher-priced products, wagering that shoppers will pay up even as demand softens.
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Nammos expands to Egypt with new North Coast destination
The Greek lifestyle and hospitality brand is partnering with Abu Dhabi's Modon Holding on its first fully integrated destination in Egypt.
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Ralph Lauren extends its winning streak with double-digit growth
The brand's first-quarter results show North America and China both accelerating, reinforcing its premiumisation strategy.
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Diageo unveils $1 billion savings drive after sales decline
Chief executive Dave Lewis is restructuring the Smirnoff and Johnnie Walker owner around cost cuts and a bet on Guinness and ready-to-drink brands.
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Capri Holdings cuts outlook as Michael Kors stumbles
A quarter of falling revenue and inventory delays at Michael Kors has pushed Capri Holdings to lower its annual guidance.
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Hermès first-half sales climb 6% as Americas surge
The leather goods house posted accelerating growth into the second quarter, underscoring its resilience against a broader luxury slowdown.
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Birkenstock's brand heat faces a 2027 stress test, analysts warn
Wall Street expects Birkenstock to hit its fiscal 2026 targets but is split on whether rising promotional activity signals a slowdown ahead.