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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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.
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Rent the Runway names Nordstrom veteran Paige Thomas as chief executive
The move comes as the rental company reports revenue up nearly 21% and a net loss cut by more than half.
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RH opens its first freestanding RH Estates Gallery in Greenwich, betting on classic design over modern
Chairman and chief executive Gary Friedman says the classic design concept will grow to half of RH's assortment within five years.
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McLaren tells retailers it is pivoting from performance maker to luxury lifestyle brand
The redesign follows McLaren's decision last year to create a chief creative officer role under David Woodhouse.
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Space NK names Emma Simpson-Scott CEO as Andy Lightfoot steps down after ten years
Two more senior hires, in finance and ecommerce, land alongside the top change at the Ulta Beauty owned chain.
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Caudalie Group buys skincare brand Talm in its first-ever acquisition
Talm founder Marion Keller stays on as chief executive as the brand moves into Caudalie's Paris headquarters.
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Bloomingdale's posts record Q2 sales volume as Macy's Inc. takes share from Saks
Macy's Inc. as a whole posted net income of $169 million and six straight quarters of results ahead of expectations, even before Bloomingdale's outperformance is counted.
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Reformation's revenue jumps 24.1% for a 21st straight quarter of double-digit growth
Net income jumped 79.4% to $12.4 million even as the stock still trades below its July IPO price of $15.
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Porsche completes sale of remaining Bugatti Rimac stake, ending Volkswagen Group ties
The German carmaker booked one billion euro from the sale and will use a quarter of it to fund pension obligations.
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Adanola passes £100 million in revenue and bets on North America expansion
Chief executive Niran Chana says the brand's cash pile has more than doubled since fiscal 2024, funding a new US warehouse.
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Kay Jewelers overhauls stores, product and marketing in its biggest rebrand in a century
The retailer is opening up display cases, fast-tracking a younger sub-brand and rolling men's shops into 200 of its roughly 1,000 stores.
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Macy's and Vince both raise full-year outlook after strong second quarter
Bloomingdale's posted its highest second-quarter sales volume in the brand's history while Vince's gross margin jumped more than ten points.
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British Fashion Council names Pavita Cooper as next chair, succeeding David Pemsel
Caroline Issa, fashion director at Tank magazine, moves into a newly created deputy chair role alongside her.
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Moncler opens its biggest flagship in the world on Fifth Avenue
Executive chairman Remo Ruffini says the brand remains under-penetrated in the United States even as Americas revenue rose 6% at constant rates in the first half.
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Luxury store openings in the US fall 46% as brands bet on fewer, bigger flagships
Average flagship size has grown by over 30% even as the number of new openings drops, with Miami's Design District emerging as a jewellery cluster to rival any mall.
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Signet Jewelers raises full-year earnings guidance 10% after swinging back to profit
Same-store sales rose 2.2% even as total revenue slipped, and Signet now expects an operating windfall of up to $250 million from a new credit deal.
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Richemont names Anton Rupert co-deputy chairman in latest succession move
He joins Bram Schot, appointed to the same title in 2024, in a split of duties Johann Rupert calls central to long-term succession planning.
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The Hoxton signs first Middle East hotel with Dubai Media City opening
The property brings a wellness club, a Japanese handroll bar and a rooftop Mexican concept to a brand that has never operated in the region before.
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Inditex sales rise 9.1% in the second quarter and hold at 9% into the fall
The Zara owner is planning 2.3 billion euros in ordinary capital spending this year, on top of the growth already logged in the first five weeks of autumn.
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Theory names James Kelly global CEO, moving Dinesh Tandon to co-chief operating officer
Kelly, a thirteen-year Fast Retailing veteran, will also oversee Helmut Lang as Theory expands its top team.