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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Accor closes in on hotel deal at Dubai Pearl, dormant for two decades
The revived masterplan is now double the size of the original, and Accor's own luxury brands are not expected to anchor it.
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Nike names LVMH's Alexandre Arnault to its board as its turnaround drags on
The appointment lands about a week after Nike was dropped from the S&P 100 Index and comes as analysts warn its top line is still worsening.
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Banyan Group buys 70% of Newmark to add 26 African safari lodges
The deal values the Cape Town operator at roughly 756 million South African rand, and Banyan is paying about $33 million in cash for its initial holding.
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Marc Metrick, former Saks Global CEO, joins BRG as a managing director
Metrick departed Saks in January amid the retailer's cash crunch and now advises turnarounds and restructurings for BRG's retail clients.
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WSG Brands, Allbirds' owner, buys Nasty Gal from Debenhams Group for $16 million
The brand generated £12 million in gross merchandise value and just £400,000 in adjusted EBITDA last year, a fraction of the price WSG Brands is paying.
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Trip.com Group rewrites hotel ranking rules after $770 million China antitrust fine
The penalty pushed the travel platform to a quarterly loss, and it is now betting on inbound international travellers to offset the domestic disruption.
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Michael Murray named Hugo Boss supervisory board chairman, replacing Sturm
The Frasers Group chief executive was already a supervisory board member, elected in May 2025, before taking the top seat.
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LuxExperience swings to profit for its fourth quarter and full fiscal year
Chief executive Michael Kliger says the group already expects a further margin jump this year, with adjusted EBITDA rising to 2% to 3%.
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Accor turns to acquisitions in India after its Treebo partnership collapses
The group still wants 300 Indian hotels by 2030, and an acquisition is now its fastest route to the small-city scale Treebo was meant to deliver.
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Macy's and Capri Holdings CEOs update investors on turnaround progress at Goldman conference
Capri's John Idol warned the coming quarter will be the most painful yet for full-price sales at Michael Kors as clearance inventory is cut in half.
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Liberty opens a second jewellery hall as fashion jewellery sales climb 20%
The new Fashion Jewellery Gallery houses 37 brands, 11 of them exclusive to Liberty, on the first floor beside designer womenswear.
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Debenhams Group sells Nasty Gal to White Space Group for $16 million
The New York brand management firm also co-owns Von Dutch and Allbirds, and its founder says another acquisition could follow within weeks.
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DSW to pilot The Edit, an affordable-luxury shop-in-shop, at four stores this fall
The pilot follows a quarter in which Designer Brands' owned brand portfolio grew nearly 18% while retail traffic softened.
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JD Sports names John Mersho CEO of JD North America as sales decline
The move follows John Hall's retirement after four decades in retail and a 4.5% sales decline in JD's largest region.
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Autry names Golden Goose veteran Danilo Piarulli as CEO to drive international push
The Italian footwear brand posted 150 million euros in sales last year and wants direct-to-consumer sales, currently 34%, level with wholesale within three years.
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Prada opens eight-floor Galleria flagship fusing retail, hotel-style hospitality and art in Milan
The project links the brand's men's and women's stores through a new underground passage and puts a permanent Prada museum above a 1824 pastry shop.
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Louis Vuitton's China sales slide after Molly Tea trademark backlash
The trip by chief executive Pietro Beccari to assess the fallout is now expected to delay his planned handover to deputy Damien Bertrand.
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China's listed apparel makers split into winners and laggards in H1 2026
Four premium brands posted gross margins above 65% while legacy casualwear names saw profits fall even as revenue grew.
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Stephan Sturm steps down as Hugo Boss chairman as Frasers Group tightens its grip
Frasers has won a second seat on the supervisory board as part of the departure terms, with Michael Murray joined by company secretary Robert Palmer.
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L.L. Bean reopens its Freeport flagship after a seven-year, $50 million renovation
Chief executive Greg Elder says the store, open around the clock every day of the year, still draws more than 3 million visitors annually.