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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Chanel acquires shirtmaker Charvet, taking the 188-year-old Place Vendôme house, its building and its workshop into full ownership.
The privately held house takes full ownership of the 188-year-old shirtmaker, including its six-floor Place Vendôme building and its workshop in central France.
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Former Audemars Piguet chief François-Henri Bennahmias launches N3W5, a high-end watch brand reportedly backed by CHF 30 million from private investors.
The former Audemars Piguet chief has reportedly secured CHF 30 million from private investors, with designs due at Dubai Watch Week 2027 and sales from 2028.
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Richemont completes the sale of Baume & Mercier to Italy's family-owned Damiani Group, closing the disposal agreed in January.
The family-owned Italian jewellery group takes 100% of the near-200-year-old Swiss watchmaker, closing the deal agreed in January.
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The Armani group readies the stake sale ordered by its founder's will, with the process expected to begin in September and LVMH, EssilorLuxottica and L'Oréal first in line.
The sale of an initial 15% of Giorgio Armani SpA is expected to begin in September, WWD reports, with LVMH, EssilorLuxottica and L'Oréal named as preferred buyers.
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Saks Global exits bankruptcy as Exemplar Luxury Group, cutting its debt by roughly 75% and its store base to 49 as it resets North American luxury retail.
The owner of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman emerges from bankruptcy with roughly 75% less debt, 49 stores and a new corporate name.