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.
-
Falic Group has acquired DFS's Abu Dhabi travel retail operation, positioning the Miami operator inside one of the Gulf's fastest-growing airport hubs as LVMH-owned DFS narrows its regional footprint.
The Miami-based duty-free operator is taking over luxury travel retail at a hub built to handle up to 45 million passengers a year, as DFS retrenches from a fast-growing Gulf gateway.
-
Estée Lauder's turnaround gathers pace, with fourth-quarter sales up 6 percent and net sales for the year topping $15 billion, though a chunk of the improvement came from a one-off tariff refund rather than underlying demand.
The beauty giant posted a 6 percent sales rise in its fiscal fourth quarter, with North America and a Supreme Court-driven tariff refund doing much of the work.
-
Dsm-firmenich is preparing a chair transition, proposing independent director Richard Ridinger to replace the retiring Thomas Leysen at the top of its board.
The fragrance and flavours group has proposed independent director Richard Ridinger to succeed Thomas Leysen, who is stepping down as chair.
-
Frasers Group has raised its stake in Hugo Boss to 48%,, pressing ahead with a €38-a-share cash bid that the Hugo Boss board says undervalues the company.
Mike Ashley's retail group has built a near-majority position in the German fashion house even as management urges investors to reject its cash offer.
-
LIV Golf cancels its Michigan finale, relocating the season-ending team championship to Indianapolis as Saudi funding is set to wind down.
The Saudi-backed golf league has scrapped its Michigan finale and relocated its team championship as it prepares for a future without the kingdom's backing.
-
Maybourne appoints José Silva as chairman, installing a veteran luxury hotelier to steer its next stage of growth.
The operator of Claridge's, The Connaught and The Berkeley has brought in one of hospitality's most experienced leaders to chair its board.
-
Target finalises its split from Ulta, launching Target Beauty Studio in its place as it reshapes its beauty strategy.
The mass retailer is replacing its in-store Ulta shops with a proprietary beauty concept as the prestige beauty distribution map keeps shifting.
-
Yusaku Maezawa has taken delivery of a superyacht reportedly worth around $350 million, according to Artnet News.
The Japanese billionaire and art collector has taken delivery of a superyacht understood to be valued at around $350 million, extending his run of high-profile trophy acquisitions.
-
Sephora is retooling its loyalty programme, adding gamified rewards and experiential perks as competition for beauty shoppers sharpens.
The retailer is leaning on gamified rewards and experiential perks to defend its customer base as omnichannel rivals crowd the beauty aisle.
-
Todd Boehly and Behdad Eghbali's co-investor Jonathan Walter is in talks to sell his stake to Clearlake Capital, as the Financial Times reports clashes over strategy and regulatory scrutiny of Walter's wider business empire.
A potential ownership shift at Chelsea Football Club points to wider strains in the private capital consortium that bought the Premier League side.
-
Ocean carriers Maersk and Hapag-Lloyd are sticking with alternative routes around the Strait of Hormuz, as WWD reports crossings have fallen following the expiry of the US-Iran ceasefire.
Major ocean carriers continue routing around the Gulf chokepoint as the expiry of the US-Iran ceasefire pushes fuel and logistics costs higher.
-
PIF's contribution to Saudi Arabia's non-oil economy rose by nearly $100 billion last year, with the fund's share of non-oil GDP climbing to 11% from 10%, according to its latest annual report.
Saudi Arabia's Public Investment Fund now accounts for a growing share of the kingdom's non-oil GDP as it deepens both domestic and international investment.
-
Shein is said to be eyeing a valuation of around $25 billion as it prepares to launch its long-delayed IPO in Hong Kong.
The fast-fashion giant is reportedly pressing ahead with a Hong Kong IPO this week after London and New York listing efforts stalled.
-
Tapestry beat quarterly profit estimates and raised its annual guidance, with Coach sales up 8.9% even as Kate Spade continues to struggle.
Coach's continued strength with both affluent and younger shoppers is offsetting a persistent drag from Kate Spade, as Tapestry raises its annual forecast.
-
Ferragamo has reopened its renovated Rodeo Drive flagship, showcasing the brand's new global store concept designed with architect Vincent Van Duysen.
The Italian house has reopened its Beverly Hills flagship as the first major expression of a global retail aesthetic developed with architect Vincent Van Duysen.
-
Sazerac has reportedly acquired Au Vodka, absorbing a UK brand that grew fast on social media and celebrity endorsement into its global portfolio.
The American spirits giant has reportedly acquired the Swansea-founded vodka brand built largely through social media and celebrity backing.
-
Indian manufacturers plan pivot away from US buyers, as threatened 100% tariffs push sourcing executives to court European and other markets instead.
Sourcing executives at trade fairs are already reworking supply chains as trade tension between Washington and New Delhi threatens to make Indian-made apparel and textiles uneconomic for US buyers.
-
Nvidia discloses a $21bn stake in SpaceX, following an exclusive deal to equip Musk's data centres with its chips.
The chipmaker's disclosure follows Elon Musk's announcement of an exclusive arrangement to supply SpaceX data centres, tightening the links between the AI infrastructure boom and Musk's private empire.
-
A Bezos-backed consortium has agreed a stake in Liverpool FC, valuing the club at more than $7 billion and extending the flow of billionaire capital into elite football.
A group linked to Jeff Bezos and Lakshmi Mittal's family has struck a deal for a stake in the Premier League champions, underlining private capital's continued appetite for trophy sports assets.
-
China's luxury market is recovering at a measured pace, a marked change from the explosive growth brands enjoyed before 2021.
After tripling in five years and then contracting through pandemic lockdowns and a property downturn, China's luxury sector is settling into a more modest, discernment-led growth pattern.