Luxury Headlines – 21/09/2026
Luxury Headlines – 21/09/2026
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Balmain Hires Phung Truong as President of the Americas
Balmain has appointed Phung Truong as President of Balmain Americas as the house seeks to strengthen its presence in the United States. She succeeds Emily George, who led the region for five years. Truong joins from OTB, where she served as Managing Director for Marni and Jil Sander in North America, and has previously held senior retail roles at Valentino, Chloé, and Jimmy Choo. Working with Balmain’s global leadership team, she will oversee the brand’s development in the U.S. and support its next phase under Creative Director Antonin Tron. The appointment brings commercial leadership to the region as Tron establishes his vision for the house; his second Balmain collection is scheduled to be shown on 30 September during Paris Fashion Week.
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Golden Goose Delivers Double-Digit Growth Across All Regions in H1 2026
Golden Goose reported strong results for the first half of 2026, with revenue increasing by 15% year-on-year to €380.4 million, supported by 19% growth in Q2. DTC remained the group’s primary sales channel, with revenue up 22% to €309.6 million and accounting for 81% of the total revenue. Adjusted EBITDA reached €122.9 million, representing a margin of 32.3%. The Americas, EMEA and APAC all delivered double-digit growth, led by the Americas at +18%, reflecting the brand’s global reach and community-led model. During Q2, HSG became Golden Goose’s majority shareholder, joined by Temasek as a minority investor, while Permira remained a strategic shareholder, providing continuity. The group’s directly operated global store network reached 230 locations, with further openings planned.
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LuxExperience Ends FY2026 with Strong Growth
LuxExperience reported FY26 Net Sales of €2.47 billion (+3.2% ex-FX, -0.6% reported), and acquisition-adjusted EBITDA improved by €63.8 million to €10.8 million. Q4 sales reached €653.6 million (+7.6% ex-FX, +6.1% reported), with Adjusted EBITDA rising to €13.6 million, marking a third consecutive profitable quarter. Full-price selling, cost discipline, and positive Q4 operating cash flow strengthened the balance sheet, leaving the company with €442.7 million in cash and cash investments and no bank debt on its balance sheet. All segments accelerated in Q4, with Mytheresa growing 10.2% ex-FX (driven by a +39.3% US surge), Net-A-Porter and Mr. Porter turning around with 5.6% growth ex-FX, and off-price platform YOOX rising +6.6% ex-FX (+22.7% in Europe). Spending by top customers remained a key contributor to sales performance at Mytheresa and NET-A-PORTER/MR PORTER. For FY27, management projects mid-to-high single-digit Net Sales growth and an Adjusted EBITDA margin expansion to 2% – 3%. LuxExperience also reconfirmed its medium-term targets of €4 billion in revenue and a 7% – 9% Adjusted EBITDA margin.
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Puig Acquires Full Ownership of Isdin for €1.2 Billion
Spanish beauty and fashion group Puig has agreed to acquire the remaining 50% stake in Spanish dermocosmetics brand Isdin from Corporación Químico-Farmacéutica Esteve for €1.2 billion. The transaction includes €900 million in cash at closing, expected in the first quarter of 2027, plus a fixed €300 million deferred payment due in early 2029. Financed through cash reserves and debt, the deal is expected to keep Puig’s net debt-to-adjusted EBITDA ratio below 2.0x. Gaining full ownership after a 50-year joint venture strengthens Puig’s position in the fast-growing dermocosmetics and skincare market. Isdin will continue to operate under its current governance structure and day-to-day management within Puig.
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Dior Opens a Larger House on Via Montenapoleone in Milan
Dior has opened a new House of Dior in Milan, doubling the space of its previous Via Montenapoleone store. The three-level location brings together ready-to-wear, accessories, high jewelry, fragrances and homeware, with dedicated areas for bespoke tailoring and private appointments. Peter Marino designed the interiors, incorporating commissioned artworks and gardens by landscape architect Peter Wirtz. The upper floor includes private lounges and a beauty room. The house also includes Monsieur Dior, a 12-table restaurant led by chef Enrico Bartolini, serving a menu inspired by Dior codes and Italian gastronomy.
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Hermès Expands US Presence with Permanent Williamsburg Location
Following a successful three-year pop-up, Hermès has established a permanent footprint on Williamsburg’s North Sixth Street, marking its 44th U.S. location. Designed by Parisian architecture agency RDAI, the two-story boutique incorporates exposed brick, gray terrazzo, and custom metalwork to honor the neighborhood's industrial legacy. The two-story space showcases all 16 Hermès métiers, featuring lifestyle categories, beauty, and accessories on the ground floor, alongside fine jewelry, timepieces, leather goods, and ready-to-wear on the upper level. Diane Mahady, President and CEO of Hermès Americas, confirmed the boutique will also feature a dedicated window display program celebrating local Brooklyn artists.
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Audemars Piguet Collaborates with Serena Williams on Royal Oak Chronograph
Audemars Piguet has introduced a 38 mm Royal Oak Selfwinding Chronograph created in collaboration with brand ambassador Serena Williams. Featuring mother-of-pearl accents and ceramic details, the timepiece blends athletic functionality with refined design. CEO Ilaria Resta emphasized that the partnership reflects the brand’s fluid approach to creative collaborations, aiming to broaden its clientele and engage more women. Moving away from traditional gender classifications in watchmaking, Resta noted that the model appeals universally across demographics.
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Tag Heuer Becomes Title Partner of the 2027 British Grand Prix
TAG Heuer will become the title partner of the 2027 British Grand Prix at Silverstone, adding a third race sponsorship to its Formula 1 partnership after Monaco in 2025 and Madrid in 2026. The Swiss watchmaker returned as Formula 1’s official timekeeper in 2025 under LVMH’s ten-year agreement with the championship, which also includes Louis Vuitton and Moët & Chandon. The British Grand Prix sponsorship extends TAG Heuer’s presence from timing the races to lending its name to one of them.
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The Ritz-Carlton Plans Residences in Brooklyn’s Former Hotel Bossert
The Ritz-Carlton is bringing its first branded residences to Brooklyn, converting the former Hotel Bossert at 98 Montague Street in Brooklyn Heights. Marriott is developing the project with SomeraRoad, which acquired the 14-story building in 2025. The restoration will preserve elements of the 1909 landmark’s façade, including its terra-cotta cornice and arched windows. Residents will have an attended lobby, wellness and entertainment facilities, as well as access to Marriott’s owner benefits program. Union Square Hospitality Group will open a ground-floor restaurant serving both residents and the neighborhood. The project marks the 50th standalone residence in The Ritz-Carlton’s global development portfolio, with construction expected to begin later this year and completion planned for 2029
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Bottega Veneta Welcomes Song Hye Kyo as Global Ambassador
Bottega Veneta has appointed South Korean actress Song Hye Kyo as its newest global brand ambassador. Known for her breakout roles in "Autumn in My Heart" and "The Glory," Song joins ambassadors such as Jacob Elordi and Julianne Moore. Both Song and Creative Director Louise Trotter cited a shared appreciation for culture, art, and craftsmanship as the foundation of the partnership.
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