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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Washington and Ottawa missed their deadline, leaving 50% tariffs on Canadian goods set to bite just as fashion and luxury brands finalise autumn sourcing costs.
Marathon talks failed to produce a resolution before steep new US tariffs on Canadian goods were due to take effect, adding fresh cost pressure across cross-border supply chains.
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Sabyasachi is adding fragrance, footwear and leather goods to its portfolio, the clearest signal yet that the Indian couture house intends to compete as a full-spectrum global luxury lifestyle brand.
The Indian couturier is moving into fragrance, footwear and small leather goods while expanding eyewear, extending its ambitions well beyond its bridal and ready-to-wear roots.
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The Panama Canal is restricting traffic again,, cutting daily transits to 32 in September as El Niño threatens water levels.
The Panama Canal Authority will trim daily crossings from 36 to 32 in September, reviving supply chain risks that hit luxury and other high-value shipments during the 2023-24 drought.
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Ross Stores is pulling ahead of TJX,, with comparable sales up 10% in the second quarter on new and returning customers.
Ross Stores posted a sharp jump in comparable store sales in its latest quarter, outpacing rival TJX and underscoring how value-seeking shoppers are reshaping retail even at the upper end.
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Roots is going private,, acquired by Marquee Brands in a deal framed around preserving its Canadian roots.
The Canadian outdoor and lifestyle retailer will be acquired by the parent company of Roberto Cavalli, in a deal pitched as protecting its national identity.
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Christine Hunsicker has been sentenced to five years in prison, after a $300mn fraud that the presiding judge said was partly attributable to a head injury.
Christine Hunsicker, founder of the fashion rental start-up once valued highly by investors, has been sentenced to prison after a court accepted a head injury contributed to her crime.
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Coty has named Soraya Benchikh as chief financial officer, arriving as the beauty group works through a difficult fourth quarter and continued leadership change.
The beauty group has appointed Soraya Benchikh as chief financial officer alongside a weak quarterly update, adding finance leadership to an already reshaped executive team.
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Swiss watch exports rose 9.6% in July, pulling the seven-month cumulative figure into positive territory, according to the industry federation.
A 9.6% jump in July shipments pushes the seven-month tally back into growth, a signal that demand for Swiss horology is stabilising after a bruising stretch.
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Marquee Brands is acquiring Canadian retailer Roots for $4.10 a share,, with day-to-day operations passing to Joe Mimran's JM&A.
The brand management firm is acquiring the Canadian outdoor lifestyle retailer at $4.10 a share, handing operations to Club Monaco and Joe Fresh founder Joe Mimran.
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China's campaign to tax offshore wealth is squeezing luxury spending further,, with sales at the biggest brands sliding as the wealthy pull back across stock markets, casinos and shopping.
A crackdown on offshore wealth is rippling through China's luxury spending, adding a new structural drag to a market brands had hoped was stabilising.
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Louis Vuitton has made its first cobranded product,, a pair of restored Porsche 911s created with Singer that draw on trunk making and watchmaking expertise.
The French house has restored a pair of Porsche 911s with Singer, its first cobranded product and a signal of how far its métiers can stretch beyond leather goods.
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Coty has outlined a plan to grow its portfolio by 2028,, leaning on innovation and brand investment as it prepares to lose the Gucci Beauty licence to L'Oréal in 2027.
Interim chief executive Markus Strobel used an earnings call to lay out how Coty plans to grow its portfolio through 2028 as Gucci Beauty's licence moves to L'Oréal in 2027.
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China and Switzerland have agreed a trade deal removing most tariffs,, easing the path for Swiss exports including watches and other luxury goods into the Chinese market.
A new accord scraps most levies on Swiss goods entering China, a move that stands to benefit Switzerland's watch and luxury export sectors as Beijing courts closer European ties.
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Swiss watch exports rose 9.6% in July, with the US posting double-digit growth and France's exports doubling even as Asian demand stayed soft.
Swiss watchmakers leaned harder on American buyers in July as key Asian markets continued to lag.
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Coty posted weak quarterly profit and skipped annual guidance, as Estée Lauder's CEO outlined a plan to revive make-up sales and deepen its push into Asia-Pacific.
Coty withheld its annual forecast after a soft quarter, while Estée Lauder's chief executive laid out plans to fix lagging make-up sales and lean further into China.
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Rolex's Certified Pre-Owned programme saw sales grow 101% in the first half of 2026, according to EveryWatch's Secondary Market Report, as the brand formalises its grip on the resale market.
Rolex's official pre-owned scheme has become a significant new growth channel, with sales more than doubling in the first half of the year.
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Coty beat Wall Street sales forecasts for its fiscal year, even as it absorbs the loss of the Gucci beauty licence, and named Soraya Benchikh as its new CFO.
The beauty group beat sales expectations despite the loss of its Gucci fragrance licence and installed Soraya Benchikh as chief financial officer for its next growth phase.
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Puma India is stepping back from discount-led selling, closing weaker stores and leaning into running and hybrid fitness as its new chief resets the market's positioning.
Under new leadership, Puma's Indian arm is closing underperforming stores and prioritising running, hybrid fitness and team sports over the discount-led volume strategy that has weighed on the market.
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LVMH sells Abu Dhabi duty-free arm to Falic Group, the latest sign that travel retail no longer fits neatly into its portfolio.
The luxury group has sold its Abu Dhabi travel retail operations to Miami-based Falic Group, continuing a retreat from parts of the duty-free business.
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Estée Lauder posts fiscal 2026 sales growth of 5% to $15bn, crediting its Beauty Reimagined turnaround as Tom Ford Beauty and Jo Malone London join the billion-dollar club.
The beauty group's turnaround plan has restored sales growth and pushed two more brands past the billion-dollar mark, though the recovery remains fragile.