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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LVMH names Matthieu Soudan managing director of jeweler Repossi
Anne de Vergeron, who led the jeweler since 2020, returns to a business development post at LVMH she held for almost twelve years.
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The Frankie Shop opens Milan flagship as it targets doubled revenue by 2027
The retailer says menswear now makes up 12 percent of sales and wholesale partners another 20 percent.
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Mattioli opens Milan flagship as its private equity backer eyes a global relaunch
Chief executive Claudio Pasta says the business plan he joined for targets revenues three to four times the current baseline within five years.
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Capri Holdings draws buyer interest as $809 million hedge liability looms
John Idol's group has already sold Versace and fought off a blocked Tapestry merger, and now faces a derivative liability nearly four times Tapestry's own.
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Volvo names Škoda's Klaus Zellmer as next CEO, replacing Håkan Samuelsson
Zellmer, currently CEO of Škoda Auto, previously ran Porsche's North American and German operations before Volvo's board settled on him.
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J.C. Penney sales fall 8% in Q2, losing share despite marketplace launch
Furniture sales jumped 41% and beauty rebounded from the Sephora split, but the department store still lost ground to Macy's, Dillard's and Kohl's.
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Ethan Allen launches CEO search after activist Doug Bergeron pressure
David Sable says the incoming chief must fix digital transformation and supply chain efficiency, the same gaps Bergeron cited in August.
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Luxury hotels led RevPAR growth in H1 2026 as budget brands stalled
IHG's Atwell Suites posted the steepest RevPAR gain of any brand, up 22.7% year over year in the first half.
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Donatella Versace to launch a new fashion and beauty label with Revolve Group
The still-unnamed label starts in beauty and rolls out first across the United States, Latin America, Asia-Pacific and the Middle East.
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Loro Piana opens a fossil fuel free knitwear hub in Ghemme, Italy
The Piedmont site took three years to build and includes a museum, an artisan academy and a design award installation.
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Aldar opens Saadiyat Grove with three museums as anchor, not a mall
Chief retail officer Saoud Khoory says the sightline to three museums, not a department store, is what sold more than 100 brands on the site.
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Études Studio enters judicial restructuring and hunts for a new investor
The Paris menswear label's shareholders' equity has turned negative as it works towards a deal by the end of 2026.
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On signs Kylian Mbappé to lead its first push into soccer footwear
Analysts are split on whether a marquee signing is enough to break a category Nike, Adidas and Puma have controlled for decades.
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Glenn Martens to exit Diesel after spring 2027 show, stays at Margiela
Renzo Rosso says the Belgian designer, who joined Diesel in 2020, will be replaced by a successor still to be named, while Martens keeps the Maison Margiela role he has held alongside it.
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Extravaganza Beauty buys Roja London, keeping founder Roja Dove on as consultant
Chief executive Audrey Minard stays on to run the house as it targets deeper growth across the Middle East.
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Accor closes in on hotel deal at Dubai Pearl, dormant for two decades
The revived masterplan is now double the size of the original, and Accor's own luxury brands are not expected to anchor it.
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Nike names LVMH's Alexandre Arnault to its board as its turnaround drags on
The appointment lands about a week after Nike was dropped from the S&P 100 Index and comes as analysts warn its top line is still worsening.
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Banyan Group buys 70% of Newmark to add 26 African safari lodges
The deal values the Cape Town operator at roughly 756 million South African rand, and Banyan is paying about $33 million in cash for its initial holding.
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Marc Metrick, former Saks Global CEO, joins BRG as a managing director
Metrick departed Saks in January amid the retailer's cash crunch and now advises turnarounds and restructurings for BRG's retail clients.
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WSG Brands, Allbirds' owner, buys Nasty Gal from Debenhams Group for $16 million
The brand generated £12 million in gross merchandise value and just £400,000 in adjusted EBITDA last year, a fraction of the price WSG Brands is paying.