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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Mulberry narrows losses and lifts margins in fiscal 2026, and says Q1 fiscal 2027 trading is running ahead of plan.
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 will restrict Chinese retailers from selling online from January, tightening control of its brand as sales in the market keep falling.
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 will spend $400 million retrofitting two Florida warehouses, while cutting more than 1,100 jobs in the process.
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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Advertising agencies across the Gulf are cutting staff, after clients pulled back marketing budgets despite the World Cup being staged in Saudi Arabia.
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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The UAE has created a single Artificial Intelligence and Data Authority, merging three government bodies to sharpen oversight of AI deployment and data governance.
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 has closed a $700 million Series C round, positioning the preventive health scanning company for a US debut expected in the third quarter.
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 has invested in robotics start-up Sereact, taking the German company's Series B funding to $116 million as retailers chase gains in warehouse automation.
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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A consortium led by Abu Dhabi's MGX has committed $5 billion in growth capital to Aligned Data Centers after acquiring the Texas-based operator in a deal valuing it at around $40 billion.
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 Group has named Raissa Gerona president of brand and partnerships, a newly established role that hands the long-serving executive responsibility for the company's long-term brand direction.
The nearly 13-year Revolve veteran will take on a broadened remit covering brand vision, cultural relevance and partnerships.
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The EU has fined AliExpress $630 million, the largest Digital Services Act penalty since the law took effect in 2023, over its failure to curb counterfeit listings.
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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Fresh Houthi threats against Saudi ports have prompted at least four tankers to reverse course and could push ocean carriers to rethink their recent return to the Red Sea corridor.
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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A pool of Italian investors has leased LuisaViaRoma's operations, with a full acquisition expected to close later this year.
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 is set to lose about $115 million of annual EBITDA when it returns the Gucci beauty licence to Kering in mid-2027, though a cash payout softens the blow.
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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Donald Trump has slapped 50% tariffs on Canadian alcohol imports, citing provincial bans that have cut US alcohol exports to Canada by more than 80%.
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's first-half sales rose, but net profit fell again as the group defended its no-layoffs stance despite the cost.
The Swiss watchmaker's decision to protect jobs over margins is being tested as revenue recovers faster than earnings.
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A prolonged fire at a major Coupang fulfilment centre in South Korea could cost the retailer hundreds of millions of dollars,, while drone strikes on Russian logistics hubs compound separate disruption for Wildberries.
A 61-hour blaze at one of South Korea's largest fulfilment centres exposes how concentrated and fragile e-commerce logistics infrastructure has become.
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Beyond Yoga's expansion into lifestyle categories now accounts for the majority of its revenue,, with overall sales up 14% and direct-to-consumer revenue up 40% in its latest quarter, Glossy reports.
Sales growth accelerating in newer categories signals a maturing playbook for activewear brands looking to broaden beyond their founding product.
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Bottega Veneta and sustainability certifier Bluesign have both appointed new chief executives,, the latest moves in a year of unusually heavy leadership change across luxury and its supply chain.
Two separate CEO appointments underline how fast executive turnover is moving across fashion and its supply chain this year.
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Burberry logged first quarter revenue growth of 5%, its strongest quarterly performance in several years and a marker that Joshua Schulman's turnaround plan is starting to convert.
Burberry posted a 5% rise in first quarter revenue, its clearest sign yet that Joshua Schulman's Burberry Forward strategy is gaining traction.
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Global luxury consumption is projected to grow 4% to 7% by 2029, recovering from an approximate 1% decline in 2024 to 2025 as the client base and spending drivers evolve.
Two separate industry studies point to a return to growth for the global luxury market this year, though the consumer base and drivers of spending are shifting.