Briefing
The latest from across luxury business: the moves, deals and numbers that matter, gathered as they break.
This briefing is compiled twice a day using Worthbury's AI agents, finely tuned to meet our editorial standards. While we test and review their work, mistakes can sometimes happen. See exactly how it works.
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Kering has named Sabina Belli president of Kering Italia, with Charlotte Fournet taking over as Pomellato chief executive and Krizia Cucurachi named CEO of DoDo.
The French luxury group has named Sabina Belli president of Kering Italia and installed new chief executives at Pomellato and DoDo, effective mid-September.
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Shein's Hong Kong IPO opened to a sharp share price fall, underscoring investor doubts about the ultra-fast-fashion group's growth outlook.
Shares in the fast-fashion giant fell sharply on their market debut, a signal of investor caution towards its growth story.
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GRT Jewellers is seeking control of Tribhovandas Bhimji Zaveri in a deal worth up to $109 million, as Senco Gold targets sharp turnover growth and Prime Minister Modi again urges Indians to limit gold purchases.
A major consolidation deal, aggressive expansion plans and a prime ministerial call to curb gold buying all point to a sector adjusting to record prices.
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The Metropolitan Museum has cancelled its planned Galliano retrospective, following criticism from Jewish community leaders, donors and politicians over the designer's past conviction.
The museum has shuttered a planned retrospective of the designer's work after criticism over his 2011 antisemitic hate crime conviction.
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Hotel Adlon Kempinski Berlin could be sold for around €280 million, as the fund managed by Jagdfeld Group confirms a report on the potential deal.
The fund that owns the storied Berlin landmark is reportedly weighing a sale as its manager, the Jagdfeld Group, confirms talks are underway.
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Fosun has filed for a Club Med initial public offering in Hong Kong, seeking capital as the resort operator's revenue growth remains modest despite a premiumisation push.
The listing would raise capital for the resort operator as its premiumisation push has yet to translate into meaningful pricing power.
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Partners Group, the majority owner of Breitling, faces around €6 billion in debt refinancing, across three portfolio companies, adding to investor scrutiny of the Swiss private markets firm.
The Swiss private markets firm is running short of time to refinance debt at three portfolio companies, sharpening scrutiny of its balance sheet management.
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Dolce & Gabbana is considering selling property assets to raise cash, after banks agreed to waive covenants on its debt as luxury demand stays soft.
The Italian house is exploring asset disposals after lenders agreed to waive terms on its debt amid weak luxury demand.
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Victoria Beckham's company turned its first operating profit, posting £7.3 million in fiscal 2025 against a £1.6 million loss a year earlier.
Double-digit sales growth has finally tipped the fashion and beauty house into the black after years of losses.
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Off-White has split from creative director Ib Kamara, who took the role in 2022 after years as a close collaborator of founder Virgil Abloh.
The creative director's exit ends a four-year run steering the brand founded by the late Virgil Abloh.
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Nike taps a logistics specialist to run Converse's operations, as the sneaker group looks to stabilise a brand that has lagged its stablemates for years.
Nike has appointed former Foot Locker supply chain chief Kristin Bauer as chief operating officer of Converse, a signal that the struggling brand's turnaround will be built on operational discipline rather than design alone.
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Authentic Brands Group has acquired a 51% stake in OVO,, Drake's lifestyle label, with management handed to Vince Holding and financial terms undisclosed.
The licensing giant folds October's Very Own into its portfolio and hands day-to-day management to Vince Holding, betting celebrity streetwear can be run like any other brand.
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Gap Inc. moves to fix Old Navy's slump, with CEO Richard Dickson detailing merchandising and marketing changes to reverse falling sales at the value chain.
Chief executive Richard Dickson has outlined a turnaround programme for the group's largest and most troubled banner.
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Pernod Ricard's US sales dropped 14%, with China also weak, underlining how far spirits demand has cooled in the group's two most important growth markets.
The spirits group behind Jameson and Absolut reported a steep American sales decline alongside continued softness in China.
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Maybourne's Qatari owners have split the group's operations from its property assets, ending years of ambiguity over who runs what across Claridge's, The Connaught and The Berkeley.
The two Qatari investment vehicles behind the ultra-luxury hotel group have formalised a split, with one taking the Maybourne brand and operating control and the other retaining the underlying real estate.
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Nike has named Walmart veteran Jane Ewing as chief commercial officer, months after eliminating the role, as chief executive Elliott Hill looks to mend ties with wholesale partners.
The appointment of Jane Ewing to oversee both direct-to-consumer and wholesale marks a reversal of Nike's earlier decision to eliminate the position, underscoring the difficulty of balancing its own stores against retail partners.
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Tod's has launched its first digital product passport, working with traceability platform Renoon to get ahead of incoming EU transparency rules.
The Italian leather goods house has launched a digital product passport with Renoon, moving early on regulation that will reshape how luxury goods are traced and sold.
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Ulta Beauty beat Wall Street expectations and raised its full-year outlook, citing an 8.9% sales increase, international expansion and new initiatives.
The specialty beauty retailer posted stronger than expected second-quarter results and lifted its full-year guidance, underlining the resilience of premium beauty spending even as broader retail softens.
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Gap Inc's sales slipped in the second quarter and Old Navy's chief departed, as the retailer trimmed its sales outlook but raised earnings guidance.
Gap Inc reported softer second-quarter sales and a leadership change at Old Navy, even as the core Gap brand's turnaround continues to outperform within the portfolio.
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Levi Strauss & Co has filed a formal notice of opposition against House of Levii, arguing the smaller brand's name and identity infringe on its intellectual property.
The denim group is moving to block a smaller label it says trades on the visual and naming similarity to its own brand, underscoring how aggressively legacy fashion houses now police adjacent trademarks.