Luxury Headlines – 26/01/2026
Luxury Headlines – 26/01/2026
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CTG Duty Free Acquires DFS Greater China
Travel retail operator, China Tourism Group Duty Free (CTG), has reached an agreement to acquire DFS Group’s Greater China business from LVMH and co-founder Robert Miller. This transaction includes DFS retail locations in Hong Kong and Macau, alongside exclusive intellectual property rights for the region. As part of the deal, LVMH and the Miller family will reinvest a portion of the proceeds into CTG’s Hong Kong-listed H-shares, signaling a long-term strategic partnership. This acquisition consolidates CTG’s dominance in the Greater Bay Area and Hainan, where the group already manages extensive duty-free complexes.
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L Catterton Acquires Minority Stake in Ex Nihilo
L Catterton has acquired a minority stake in French niche perfumery Ex Nihilo, following the full exit of asset manager Eurazeo. The transaction, scheduled for completion in Q1 2026, concludes a 2-year partnership during which Eurazeo facilitated the brand’s international expansion and organizational scaling. Founded in 2013, Ex Nihilo specializes in high-end, personalized fragrances. Through this investment, the brand will utilize L Catterton's expanded global network to scale operations while maintaining its commitment to artisanal craftsmanship.
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Damiani Group Acquires Baume & Mercier from Richemont
Richemont has reached an agreement to sell its Swiss watchmaker brand Baume & Mercier to Italy’s Damiani Group. The divestment follows a challenging period for the luxury timepiece sector, influenced by global tariffs and shifting demand. For Damiani, the acquisition of the almost 200-year-old brand strengthens its portfolio alongside labels like Salvini and Venini. The transaction is slated for completion in mid-2026, with Richemont providing a 12-month transitional period of operational support.
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Burberry Posts Q3 FY2026 Results Driven by Greater China
Burberry posted positive Q3 FY2026 results, with revenues reaching £665 million, a +1% increase at reported exchange rates (+3% at constant exchange rates). Comparable store sales rose by +3%, a significant recovery from the -4% decline recorded in the prior year. Growth was primarily driven by Greater China, with a +6% increase, and the Asia-Pacific region, at +5%. Additionally, the Americas saw a -2% decline, while EMEIA remained flat. The brand successfully attracted younger demographics, achieving double-digit growth among Gen Z consumers in Asia. Burberry expects FY2026 adjusted operating profit to align with market consensus, maintaining a focus on high-quality earnings and sustainable value.
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Tiffany & Co Appoints David Ponzo as Deputy CEO
Tiffany & Co. has appointed David Ponzo as Deputy CEO, effective January 26, succeeding the retired Gavin Haig. Transitioning from his role as Chief Commercial Officer at Louis Vuitton, Ponzo will now oversee Tiffany’s global retail operations, commercial functions, and jewelry divisions. In a related move, Thierry Vasseur has been promoted to Executive Vice President of Jewelry and Home, reporting directly to Ponzo. Additionally, Hugues Bonnet-Masimbert will depart his role as CEO of Rimowa to become Louis Vuitton’s Chief Commercial Officer on March 1, further reinforcing LVMH’s internal talent strategy.
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Kering Names Daniele Zito, First Chief Commercial Officer
Daniele Zito has been appointed as Kering’s first Chief Commercial Officer, a newly created role designed to centralize the group’s commercial strategy across retail, wholesale, and e-commerce channels, effective immediately. Zito’s professional background includes 6 years at Bain & Company and a 9-year tenure at Gucci, where he served for 5 years as President of Gucci Japan after initially joining as Worldwide Retail Outlet Director. This recruitment follows de Meo’s pattern of assembling a high-level executive team to drive Kering’s transformation and sustainable value creation.
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Bartolomeo Rongone Joins Moncler as CEO
Bartolomeo Rongone, CEO of Bottega Veneta, is set to conclude his 5-year tenure in the brand on March 31st, to assume his new role as CEO at Moncler effective April 1st. Working alongside Executive Chairman Remo Ruffini, Rongone will be driving strategic development and operational agility in Moncler. He held previous senior leadership positions at Fendi and was the COO of Saint Laurent. His appointment follows a corporate reorganization at Moncler, which includes Roberto Eggs stepping down from his executive role to join the board.
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