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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Richemont posts a strong first-quarter sales gain, driven by Cartier and Van Cleef & Arpels, underscoring jewellery's outperformance within luxury.
Cartier and Van Cleef & Arpels led a strong first quarter for the Swiss luxury group even as the wider sector shows a widening split between winners and laggards.
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Kering closes out its Bottega Veneta CEO search, installing Romain Spitzer effective September 1, reporting to group chief executive Luca de Meo.
Kering has ended its search for a new Bottega Veneta boss, handing the Italian leather goods house to a former LVMH fragrance executive.
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Romain Spitzer leaves LVMH Beauty for the top job at Bottega Veneta, a rare senior move between the two biggest luxury conglomerates.
A 20-year LVMH Beauty veteran crosses to a rival group to run one of Kering's most closely watched turnaround brands.
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IM8, the wellness brand fronted by David Beckham, has secured $1 billion in growth financing, underlining investor appetite for celebrity-backed longevity and supplements brands.
General Catalyst's Customer Value Fund is backing the wellness supplements brand to scale marketing and customer acquisition.
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Richemont's sales beat forecasts by a wide margin, with jewellery driving gains across Asia and the Americas and lifting peer stocks in sympathy.
A 20% constant-currency sales rise at the Cartier owner reassured investors that hard luxury is holding up better than fashion and leather goods.
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Howard Marks is selling., listing side-by-side Mallorca villas on the Formentor peninsula for a combined $70 million, underscoring sustained demand at the very top of Europe's trophy real estate market.
The distressed-debt billionaire is offloading a pair of side-by-side properties on the exclusive Formentor peninsula, a sign of continued strength at the top of the Mediterranean trophy home market.
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L'Oréal is set to take over the Gucci beauty licence from Coty sooner than expected, as Sephora's global COO departs and a former Kering Beauté executive takes charge at Bluemercury.
A cluster of leadership changes at Sephora, Bluemercury and Ulta Beauty coincides with L'Oréal's early move to take over the Gucci beauty licence from Coty.
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Richemont's first quarter sales rose 20%, with jewellery maisons again outpacing watches and reaffirming the group's resilience relative to softer luxury peers.
The Swiss luxury group's jewellery houses continue to outperform, reinforcing the divide between hard luxury and the rest of the sector.
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Christie's booked a $4.5 billion first half, its biggest in five years, as both leading auction houses leaned on trophy lots and luxury goods sales to drive a broader rebound.
Both auction houses posted their best results in years, powered by single-owner collections, private sales and flexible financing.
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Cheval Blanc will manage the Qatar-owned Hotel Pitrizza in Sardinia from 2027, extending LVMH's hospitality push into one of the Mediterranean's most storied resort addresses.
The renovated Sardinian property adds a fifth address to LVMH's fast-growing ultra-luxury hotel portfolio.
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PVH names Alexis Rollier CFO, pulling in a Sephora executive with LVMH roots and transatlantic retail experience.
The Calvin Klein and Tommy Hilfiger owner turns to a beauty and LVMH veteran to steer its finances through a tough retail climate.
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Guzema Fine Jewelry lands in SoHo, opening its first permanent US boutique as the Ukrainian house marks a decade in business.
The Ukrainian jewellery house marks its tenth anniversary with a New York flagship and a more ambitious American growth push.
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Revolut wins preliminary UAE crypto approval, clearing the way for its full product suite as Dubai's Vara begins final licensing steps.
The British fintech moves closer to launching its full product suite in the Emirates after winning in-principle backing from Dubai's virtual assets regulator.
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Brown-Forman chief executive Lawson Whiting will retire, effective once a successor is appointed, the company has confirmed.
The Jack Daniel's owner's long-serving chief executive will step down once a successor is named, opening a leadership transition at a company navigating a tough period for the spirits industry.
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Ennismore's IPO filing has surfaced a strategic opening that Airbnb could exploit, pairing its booking demand with Ennismore's hotel operating expertise.
Disclosures in hospitality group Ennismore's IPO filing highlight a strategic gap that Airbnb is well placed to fill, as the short-term rental giant weighs a deeper push into branded hospitality.
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Sotheby's posted $4.4 billion in first-half sales, a record for the auction house, up 59% year on year with private sales also at an all-time high.
Sotheby's total sales jumped sharply in the first half of the year, with a record private-treaty business and a headline-grabbing dinosaur auction underscoring strong appetite for trophy assets.
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A Hong Kong trial over stolen Chanel goods, has revealed the brand destroys 10,000 to 20,000 products in the city every six months.
A theft trial in Hong Kong has pulled back the curtain on the volume of unsold Chanel goods routinely destroyed in the city, just as EU rules aimed at curbing the practice are about to bite.
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Olivier Rousteing has been named creative director of Rabanne, his first appointment since ending a 14-year run at Balmain, with a debut show expected in March.
Puig hands its most experimental house to the designer who spent 14 years rebuilding Balmain's global profile.
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Logo visibility has ranked dead last among purchase drivers for luxury buyers, according to the latest BCG and Altagamma True-Luxury Global Consumer Insight report.
BCG and Altagamma's latest True-Luxury report finds design, quality and timelessness now outrank status signalling across every category.
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Brown-Forman has begun the search for a new chief executive after Lawson Whiting announced his retirement following almost three decades at the company.
The departure caps a turbulent stretch of falling sales, restructuring and failed takeover talks at the Jack Daniel's owner.