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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Moncler grows in first half as new CEO Rongone finds his voice
The outerwear group posted revenue and profitability gains as Leo Rongone addressed analysts for the first time and Sidney Toledano joined the board following a reshuffle at the top.
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Macquarie names Greg Ward to succeed Wikramanayake as chief executive
The Australian financial giant has promoted its banking head to lead the group, marking the end of one of the longer tenures among global investment bank chiefs.
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Chanel brings in a spirits veteran to run its finances
Chanel has named Hélène de Tissot as its next chief financial officer, drawing an executive from outside fashion and luxury's usual talent pool to succeed Philippe Blondiaux.
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Nike overhauls online distribution in China as revenue keeps falling
Nike is resetting how it sells online in China after regional revenue fell sharply in its most recent quarter, deepening pressure on the group's broader turnaround plan.
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Swatch Group sales rise but profit disappoints as Armani doubles net income
Swatch Group posted first-half sales growth held back by currency effects, while Giorgio Armani's holding company more than doubled annual profit in its first results since founder Giorgio Armani's death.
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Mulberry's turnaround gathers pace as losses narrow and Q1 momentum builds
The British leather goods house posted narrower losses and better margins for fiscal 2026, then confirmed the recovery has carried into the new financial year.
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Nike moves to restrict online resellers in China as it fights to control its brand image
The sportswear giant will bar key Chinese retailers from selling its products online from January, a defensive move as local rivals gain ground and its China sales slide.
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Amazon to cut over 1,100 jobs while spending $400 million retrofitting Florida warehouses
The e-commerce giant is converting two specialised Florida facilities into standard fulfilment centres, trimming headcount even as it invests in infrastructure.
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Gulf advertising agencies cut jobs as World Cup fails to deliver expected marketing boom
Weak activation spending around the tournament in Saudi Arabia points to tighter marketing budgets across the region's consumer and luxury sectors.
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UAE consolidates AI and data oversight under single regulator, raising compliance stakes for businesses
The new authority brings together three government functions and reports directly to the UAE cabinet, tightening scrutiny of how companies deploy artificial intelligence.
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Neko Health raises $700m ahead of US launch, betting big on preventive health as a luxury category
The body-scanning health start-up's fresh funding underscores investor appetite for premium wellness services as they move from niche to mainstream aspiration.
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Zalando backs warehouse robotics start-up as fulfilment becomes a competitive front
The European fashion platform's investment in Sereact signals how automation is becoming a strategic lever in luxury and premium retail's race to control cost and speed.
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MGX-led consortium commits $5 billion to US data centre developer
Abu Dhabi's MGX has joined BlackRock's infrastructure arm and the AI Infrastructure Partnership in a deal valuing Aligned Data Centers at roughly $40 billion.
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Revolve elevates Raissa Gerona to newly created president role
The nearly 13-year Revolve veteran will take on a broadened remit covering brand vision, cultural relevance and partnerships.
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Brussels fines AliExpress $630 million over counterfeit failures
The European Commission has issued its largest Digital Services Act penalty yet, targeting Alibaba's marketplace for failing to curb fake goods.
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Houthi threats against Saudi ports revive Red Sea shipping risk
A new warning targeting Saudi Arabian ports and confirmed tanker U-turns are prompting carriers to reconsider recent returns to the corridor.
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LuisaViaRoma opens new chapter with Italian investor group
A consortium led by veteran fashion executive Paolo Corinaldesi has taken over operations at the Florence-based luxury e-tailer ahead of a planned full acquisition.
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Coty prepares to hand back the Gucci beauty licence
The beauty group will give up a significant slice of its profit when it returns the Gucci fragrance and cosmetics licence to Kering in 2027, in exchange for a substantial upfront payment.
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Trump imposes 50% tariffs on Canadian alcohol imports
The US president has targeted Canadian beer, wine, cider and whisky in retaliation for provincial restrictions on American alcohol sales, escalating a trade dispute that touches major spirits and wine groups.
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Swatch Group grows sales but profit keeps shrinking
The Swiss watchmaker's decision to protect jobs over margins is being tested as revenue recovers faster than earnings.