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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Lululemon's AI chief is exiting after less than a year, adding to analyst concern about turnover just as Heidi O'Neill prepares to take over as chief executive.
The exit of Lululemon's head of AI, less than a year into the role and a month before new chief executive Heidi O'Neill starts, has heightened analyst worries about leadership stability at the athleisure group.
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Frasers Group buys Harvey Nichols out of administration for about $54 million, with turnaround estimates running as high as $270 million.
Mike Ashley's retail conglomerate has bought the storied luxury department store chain for a fraction of what reviving it may cost.
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China's luxury spending slump has turned a corner, but the shopper who has come back buys differently to before.
A recovering Chinese luxury market is rewarding brands that adapt to more cautious, value-conscious spending rather than assuming a return to pre-pandemic habits.
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Birkenstock is widening its bet on ballet-inspired footwear, with chief executive Oliver Reichert calling the ballerina trend a three-to-five-year opportunity after its Repetto collaboration's success.
Oliver Reichert says the ballerina trend, sparked by the brand's Repetto collaboration, has years of runway left as it expands into mary janes.
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Depop deepens its music ties with a Spotify partnership and live performances, as the resale marketplace works to show eBay its cultural relevance can translate into growth.
The resale platform's first campaign under new ownership doubles down on the artist-led strategy that built its following.
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Los Angeles apparel factories are seeing renewed demand from emerging brands, as tariff volatility and freight risk make offshore sourcing less predictable for smaller operators.
As overseas sourcing becomes harder to plan around, LA's remaining manufacturing base is gaining value with smaller, growth-stage labels.
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Saudi Arabia's Public Investment Fund has unveiled a new strategy, emphasising returns and private-sector capital over further giga-project spending.
The sovereign wealth fund's new five-year plan signals a pivot away from state-funded giga-projects toward attracting private investment.
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Frasers Group has acquired Harvey Nichols out of insolvency, beating Next for control of the department store chain after it fell on hard times.
The Sports Direct owner beat Next to acquire the storied British department store chain after it collapsed into insolvency.
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Richemont is facing fresh speculation over Panerai's future, after data showed a record jump in secondary market watch values this year.
A record jump in secondary watch market values has revived questions about the future of Richemont's smaller maisons.
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The secondary watch market is rebounding, but Panerai's oversized cases are proving a hard sell even as Cartier and Vacheron Constantin gain favour.
A rebound in pre-owned watch prices is lifting Cartier and Vacheron Constantin, while Panerai's bulkier timepieces are failing to find buyers.
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Tapestry's annual sales crossed $8 billion,, with Coach hitting a three-year growth target a full year ahead of schedule.
Coach's turnaround has driven Tapestry to hit a three-year revenue target a year early, underscoring how handbag repositioning can outrun broader market softness.
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Swarovski's boss says lab-grown diamonds are fuelling an ‘endearing’ rise in women buying jewellery for themselves rather than waiting to receive it as a gift.
Cheaper lab-grown stones are widening access to diamond jewellery and accelerating a shift towards self-purchase among women, Swarovski's chief executive told the Financial Times.
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Blue Elephant makes its US debut, opening a Beverly Hills flagship backed by roughly $70 million in new funding.
The South Korean eyewear brand has raised fresh capital to back its first American store, signalling ambitions to build a global presence beyond Asia.
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Peninsula Hotels' parent returns to profit, reporting HK$23 million against a HK$289 million loss a year earlier as luxury travel recovers.
Hongkong and Shanghai Hotels posted a first-half profit against a year-ago loss, a marker of how far global luxury travel demand has rebounded.
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Gulf retail supply chains buckle, with Spinneys reporting freight costs from Europe jumping from $3,000 to $17,000 a container.
Spinneys and other Dubai retail veterans describe freight costs multiplying and containers going missing as regional conflict rattles Gulf supply chains.
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Pandora raises full-year guidance, crediting new product ranges for a 3 percent organic revenue rise in the second quarter.
The Danish jewellery group lifted its full-year outlook after second-quarter organic revenue rose 3 percent on the strength of its Fuel With More product push.
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Harrods returns to profit, posting a £84.9 million pre-tax profit after a loss the previous year, but management remains cautious.
The London department store swung back into the black in its latest financial year after a prior period hit by significant one-off costs, though management remains wary about what lies ahead.
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Red Sea shipping risk returns after a deadly Houthi missile attack killed six people, the first such commercial shipping deaths since last autumn.
A fatal missile strike on a cargo ship has raised fresh doubts over the tentative return of major carriers to the Red Sea route, with implications for luxury and fashion supply chains reliant on Suez transit times.
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McLaren appoints David Woodhouse as its first chief creative officer, a new executive role announced on 10 August as the marque looks to tighten design and brand cohesion.
The supercar maker has added a newly created executive position to sharpen its design and brand identity as competition in ultra-luxury performance cars intensifies.
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US prestige beauty sales rose 7% to $17.1 billion in the first half of 2026, with fragrance the standout category, according to Circana.
Circana data shows fragrance sales powering a 7% rise in US prestige beauty in the first six months of 2026, underscoring the category's growing weight in luxury retail.