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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Zenith to cut up to half its Le Locle staff and drop most core watch lines in high-end reset
A second wave could see the entire international team go as the maison targets repositing by 2029.
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Louis Vuitton names Tiffany's Hector Muelas chief brand creative officer
The post is new, and it brings Vuitton's art buying and content factory teams under one executive.
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Shein pays $100 million to settle FTC probe over shipping delays
The sum equals 44% of the retailer's second-quarter profit, which fell 67% to $228 million.
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P&G beauty organic sales climb 5% as group revenue tops $23.3bn
Hair care, personal care and skin care each rose mid-single digits, while grooming EBIT climbed 6% to $619m.
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L'Oréal hails an 'exceptional' quarter as skincare returns to growth
Every division grew, but Latin America lagged as Mexico hit inventory and customer trouble.
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Deckers misses Q2 sales forecasts and cuts full-year sales guidance
Net income still rose 16.8% after $49 million of tariff refunds and interest, and the company raised its earnings forecast.
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DeMellier opens first store on Sloane Square, styled as a home
The brand does 80 percent of its sales online and closed its financial year at the end of July with £56 million in revenue.
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Accor guides to a flat fourth quarter on France unrest and Middle East war
Morgan Stanley's Jamie Rollo called the implied flat fourth-quarter RevPAR guide 'overly conservative'.
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Zegna Group nine-month sales rise 7.2% to €1.42 billion as Thom Browne slips
Chairman Gildo Zegna says Thom Browne is the one brand hurt by a hard third quarter, and a new Asics collaboration is due in the fourth.
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Prada Group posts 12% nine-month sales gain and urges wealthy spend
Miu Miu slowed to 1% retail growth against last year's surge, while the Middle East fell 25% and the Americas rose 29%.
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Kering Q3 revenue flat at €3.35 billion as Gucci sales slip 6%
Jewellery grew 11 percent and eyewear 4 percent, while Kering still has to name successors at Saint Laurent and Alexander McQueen.
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Hermès Q3 growth slows to 4.3% as Asia outside Japan stagnates
Leather goods climbed 10.8%, but ready-to-wear fell ahead of Grace Wales Bonner's first collection in January 2027.
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Moncler nine-month revenue rises 6% at constant exchange rates
The third quarter weakened on unseasonably warm weather and subdued tourist flows, while Asia and the Americas delivered double-digit growth.
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WSG Brands buys Sanctuary, the $85 million L.A. label, for global push
Li & Fung becomes anchor licensee of the women's ready-to-wear business, and the purchase price was not disclosed.
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Prada rules out Armani stake as it directs cash at Versace turnround
Guerra told Reuters the group's management attention and cash are going to the Milanese house it bought in December.
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Interparfums lifts 2026 sales target as Asia jumps 32% in Q3
Nine-month sales are still 2.9% lower as reported, even as the maker of Jimmy Choo, Coach and Montblanc scents upgrades its target.
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Hilton and Scandic sign multi-year Nordics hotel development deal
The first property is a full-service hotel at Scanport, next to Scandinavia's largest aviation hub.
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Inspired Capital closes $450 million fund to back creators and AI in retail
The New York firm, founded in 2019 by Alexa von Tobel and Penny Pritzker, is also launching a revenue-focused platform for portfolio companies.
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Kempinski loses CEO Barbara Muckermann and six C-suite executives
Muckermann had led the group since 2022 and oversaw the Bare Luxury repositioning, and no successor has been named in the report.
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Chanel sells majority stake in beauty manufacturer Capsum to Motion Equity
Capsum's sales are close to €80 million today, and Bardon wants to quintuple them within five years through acquisitions.