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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Spirits shut out of UK's new £10m duty relief as fourth rise looms
A 700ml bottle of 40% ABV Scotch rises 52p in February 2027, and £2.29 against July 2023.
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BHV Marais seeks court protection, blaming €37.5m it says Brookfield owes
A solvency hearing at the Paris Commercial Court on 30 October is due days after the filing, and management disputes the concerns behind it.
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Rémy Cointreau Cognac sales climb 10.3% organically in H1
The group has cut its expected tariff hit to operating profit to about €5m from €20m, and sets out its medium-term targets on 25 November.
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Puig targets over €8bn in sales by 2032 at its first Capital Markets Day
The Barcelona group also targets a 22.5 percent adjusted EBITDA margin and over €900 million of free cash flow by then.
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Offe Market raises $3 million to take off-price retail online
Gannon's marketplace says 65 percent of its brand partners use it as their only off-price channel, and it will fund AI forecasting next.
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Ugg opens first new store in five years in Williamsburg, Brooklyn
The Deckers-owned label partnered with Brooklyn artist Sarah Zapata on a mural and wrapped a subway train to mark the opening.
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Nivea sales fall 4.9% and pull Beiersdorf group sales down 1.3%
Chief executive Vincent Warnery says Nivea must stay value for money while Eucerin and La Prairie carry the premium prices.
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Lemaire names Clarisse Godbillon managing director after CEO exit
She joined Lemaire in 2020 as chief financial officer and was made COO in 2023, before the stint at Jacquemus.
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Aritzia targets up to $10.5bn in revenue in five-year plan
The retailer also plans to return half its free cash flow to shareholders and double its client base over the five years.
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China's lab-grown diamond makers pivot to AI and chip sectors as prices fall
One Henan producer plans to shift ¥1 billion raised for gem diamonds into a functional-diamond project.
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Audi to invest $4 billion in its first US factory in Georgia
The plant would employ roughly 4,500 people and turn out up to 200,000 vehicles a year, with some SUVs exported.
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Brunello Cucinelli opens Casa Cucinelli flagship in historic Shanghai residence
The three-floor space in Cao Zhai pairs a library of Western and Chinese classics with Sartoria Solomeo tailoring.
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Marc Jacobs hands Greater China growth to I.T Group, with 280 points of sale
The Hong Kong retailer, founded in 1988, also carries Off-White and Palm Angels, and the deal follows a leadership change at Marc Jacobs.
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L'Oréal CEO calls GLP-1 drugs 'very important' for skin care sales
SkinCeuticals and Kiehl's already sell products designed to complement the drugs, while L'Oréal has not said what they earn.
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L Catterton takes a strategic stake in the AI shopping agent Glance
The agent counts 10 million monthly active users in the US, who fire off about 120 shopping prompts each month.
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Boscia skin care brand is sold by Fancl to The Center and a dermatologist
The buyers say it took about a year to persuade Fancl, and the relaunch will start online with no retailer attached.
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Norman Silverman to open first flagship at The Maybourne Beverly Hills
The 320-square-foot store at 225 North Canon Drive opens in December, with prices starting at about $10,000.
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Frasers Group takes control of Hugo Boss with 50.08% stake
Hugo Boss reported half-year revenue of €1.8 billion and EBITDA of €272.0 million, and those results now flow into Frasers' accounts.
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London Jewelers marks 100 years with a 20.26-carat D Flawless cut from Botswana
The stone's digital record uses blockchain, and the Udell family travelled to Botswana to watch the cutting first-hand.
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Harrods sees Indian footfall up 50% in the Diwali season
The Knightsbridge retailer's campaign runs to 8 November and peaks with a Festival of Lights on the Brompton Road facade.