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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L'Oréal and LVMH move closer on a stake in Armani Group
Giorgio Armani's will gives the fashion house 18 months to sell 15% of itself, and named L'Oréal, LVMH and EssilorLuxottica as the buyers he wanted.
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Delvaux names Richemont's Yanina Novitskaya as CEO, succeeding Jean-Marc Loubier
She takes over on 1 December after a handover understood to have been planned for more than a year.
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Still Here opens its first store outside New York, on LA's Melrose Avenue
Cofounder Maurice Mosseri says the brand still does not know what the shop will do for revenue.
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CJ Fashion opens in São Paulo, a rare new luxury department store
JHSF built the three-floor store from a private shopper service where 80% of buyers messaged staff directly for advice on what to buy.
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Accor's Bazin weighs Ennismore IPO to fund a US push he calls overdue
Accor set itself an end of month deadline to decide the fate of its 62% stake in the lifestyle group.
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Neighborhood Intelligence reworks Fathom deal, folding in tZero and GrainChain
The new structure drops the original $53 million cash logic in favour of a digital asset contribution the companies value at more than $130 million.
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Marc Jacobs names John Wattiker chief marketing officer under new owners
Wattiker previously spent nearly 15 years at Hearst Magazines and began his career in financial services at JP Morgan and Deutsche Bank.
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Stitch Fix warns of a sales slowdown, and shareholders send its stock down 17.4%
Chief executive Matt Baer blames a timing shift and a checkout glitch, both of which he says are now fixed, even as active clients keep declining.
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Aroundtown leases two Berlin Alexanderplatz hotels to Leonardo Hotels for 20 years
The rebranded properties, now run under new Leonardo names, extend a partnership that already covers a hotel in Baden-Baden.
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Arnault family plans €1.63bn Dior buyback to simplify LVMH control
The plan would convert Christian Dior into a limited joint stock partnership called Agache, with a shareholder vote expected in December.
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Royal Caribbean in talks for 50% stake in Sandals Resorts at $6bn valuation
Investors sent Royal Caribbean shares down 6% on the news, and Sandals' own chairman had ruled out a sale just three months earlier.
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Burberry, Kering executives say the industry's 'reset' years are over
A Boston Consulting Group panel had Burberry and Kering's Americas presidents laying out how they plan to convert a three year malaise into fresh growth.
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Oura prices IPO that could value smart ring maker above Prada
The Finnish-founded, San Francisco-based ring maker reported revenue up 74% to $1.2 billion over nine months, with 5 million paid members in 56 markets.
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Ex-Remington chief Sloan Dean launches AI-native hotel operator AIHG
The venture has already tested its software at two hotel groups and drawn enough inbound interest that it says it must cap how many properties it takes on.
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Gap launches multiyear 'fashiontainment' strategy with boy band JYT
The deal covers a docuseries, a national mall tour and a co-designed capsule, and lands weeks after Gap Inc reported an overall sales decline.
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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.