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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Tom Ford Fashion opens three US stores as CEO details retail push
Each new boutique has fireplace lounges and made-to-measure, while revenues rose 2.7 percent to 156.8 million euros in the first half.
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Billy Reid names Gary Muto CEO, backed by Newtimes investment
The sourcing firm behind the brand's production has also taken a stake, on undisclosed terms.
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LVMH promotes Vuitton's Clara Boissonnas to CEO of Pucci
She succeeds Saar Debrouwere at the Florentine house and reports to Pietro Beccari.
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Tresalis buys Vyrao in its first deal and names founder Chief Brand Officer
Existing investors Elevate Beauty and Manzanita Capital retain minority stakes alongside the founder, and no price was disclosed.
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Aston Martin delays its first EV to between 2033 and 2035, keeping V-12 alive
Chief executive Adrian Hallmark says the company will keep its V-8 and V-12 engines until the later date.
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Nike extends its turnaround as Converse sales tumble 28% and revenue falls 4%
China and Converse together account for 86% of the group's net sales decline.
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Amorepacific backs Junevity to hunt skin-ageing pathways
Junevity's lead candidate is an obesity drug; the cosmetic licence is a side door into skin.
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Caesars shareholders back $17.6 billion Fertitta takeover
Antitrust clearance and per-jurisdiction gaming approvals still stand between the deal and its close.
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Dua Lipa's Augustinus Bader brand opens first permanent boutique in Paris
Chief executive Charles Rosier says the pop-ups beat expectations and that a US store would be a logical step, with the line aimed at 18-to-35-year-olds.
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Pandora opens $150 million Vietnam factory, its first outside Thailand
The plant will employ 7,000 workers once fully operational, and Pandora says it is a bet on platinum plating as well as silver.
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Hyatt names Amar Lalvani its first-ever Chief Creative Officer
The new role sits alongside his job leading the Lifestyle Group and reports directly to the chairman.
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Balmain opens a 3,200-square-foot Milan flagship at 23 Via della Spiga
The store replaces the Via Montenapoleone boutique and debuts a design by architect Andrea Faraguna, as the chief executive rules out expansion for its own sake.
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Davide Cenci turns 100 and its president is planning for a fourth generation
Rome sales have been flat for two or three years, while New York is described as extremely good and a food concept is planned for the Rome store.
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Mattel names board member Roger Lynch CEO as Ynon Kreiz steps down
Legal chief Jonathan Anschell takes over as interim principal executive officer from Friday, until Lynch starts.
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Choice Hotels buys RV club Harvest Hosts for $130 million in cash
Harvest Hosts keeps its brand and its chief executive Joel Holland, while seller Stripes exits an investment it made for $37 million in 2021.
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Oura delays its IPO, blaming Wall Street jitters despite 90% growth
The smart ring maker gave no new date, and had set a range of $40 to $44 a share before stepping back.
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Selfridges swings to a £13m pre-tax profit after a £15.9m loss
Operating profit rose 89% to £79.7m, and chief executive André Maeder used the results to lobby the new prime minister on tax-free shopping.
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CFDA names Hildy Kuryk interim CEO after Steven Kolb resigns
She is not a candidate for the permanent role, and the board expects the search to run three to six months.
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Shein's first-half profit falls 55.6% in its first report as a listed company
Shares fell 9.2% to a record low on Tuesday morning, leaving Shein valued at $17.3 billion, against around $26 billion at listing.
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Sephora will open shops in about 100 M&S stores from spring 2027
M&S holds a little over 1% of UK beauty, and the deal echoes a Kohl's tie-up that has weighed on that retailer's results this year.