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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France moves to fine Shein and Temu over ultra-fast-fashion harms
Paris introduces new financial penalties targeting the environmental and economic impact of ultra-fast-fashion platforms, sharpening Europe's regulatory pressure on the model.
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Céline bets big on Rodeo Drive with new US flagship
The LVMH-owned house has opened a 5,500-square-foot Beverly Hills store as it leans into what it calls strong American momentum.
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Mike Ashley returns for a majority stake in Hugo Boss
The Frasers Group billionaire is preparing a fresh push for control of the German fashion house after his summer takeover attempt fell short.
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Nobu Hospitality opens fifth Spanish hotel, cementing Madrid push
The De Niro-backed hospitality group has opened Nobu Hotel Madrid, making Spain its leading market in Europe.
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Henkell Freixenet takes majority control of Cassidy Wines
The German-Spanish drinks group has acquired a 60% stake in the Irish wine importer as it builds scale in the Irish market.
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Kering reshuffles Italian leadership, elevates Sabina Belli
The French luxury group has named Sabina Belli president of Kering Italia and installed new chief executives at Pomellato and DoDo, effective mid-September.
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Shein's Hong Kong listing stumbles out of the gate
Shares in the fast-fashion giant fell sharply on their market debut, a signal of investor caution towards its growth story.
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India's gold jewellery sector navigates record prices and political pressure
A major consolidation deal, aggressive expansion plans and a prime ministerial call to curb gold buying all point to a sector adjusting to record prices.
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The Met cancels its John Galliano Costume Institute show
The museum has shuttered a planned retrospective of the designer's work after criticism over his 2011 antisemitic hate crime conviction.
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Berlin's Hotel Adlon Kempinski could change hands for €280 million
The fund that owns the storied Berlin landmark is reportedly weighing a sale as its manager, the Jagdfeld Group, confirms talks are underway.
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Fosun files for a Club Med IPO in Hong Kong
The listing would raise capital for the resort operator as its premiumisation push has yet to translate into meaningful pricing power.
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Breitling owner Partners Group faces a €6 billion refinancing crunch
The Swiss private markets firm is running short of time to refinance debt at three portfolio companies, sharpening scrutiny of its balance sheet management.
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Dolce & Gabbana weighs property sales to shore up liquidity
The Italian house is exploring asset disposals after lenders agreed to waive terms on its debt amid weak luxury demand.
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Victoria Beckham posts first operating profit as sales surge
Double-digit sales growth has finally tipped the fashion and beauty house into the black after years of losses.
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Off-White and Ib Kamara part ways
The creative director's exit ends a four-year run steering the brand founded by the late Virgil Abloh.
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Nike installs a supply chain veteran to fix Converse
Nike has appointed former Foot Locker supply chain chief Kristin Bauer as chief operating officer of Converse, a signal that the struggling brand's turnaround will be built on operational discipline rather than design alone.
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Authentic Brands takes majority stake in Drake's OVO
The licensing giant folds October's Very Own into its portfolio and hands day-to-day management to Vince Holding, betting celebrity streetwear can be run like any other brand.
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Gap Inc. sets out plan to steady Old Navy
Chief executive Richard Dickson has outlined a turnaround programme for the group's largest and most troubled banner.
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Pernod Ricard's US sales fall sharply as China stays weak
The spirits group behind Jameson and Absolut reported a steep American sales decline alongside continued softness in China.
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Maybourne's Qatari owners divide operational control and property portfolio
The two Qatari investment vehicles behind the ultra-luxury hotel group have formalised a split, with one taking the Maybourne brand and operating control and the other retaining the underlying real estate.