The water diluted solution behaviour of mono-and bis-b-cyclodextrin (mono-and bis-CD) derivatives, whose appended groups and inter-CD linkers contain a naphthoxy chromophore moiety, has been studied using steady-state and time-resolved fluorescence techniques, circular dichroism and molecular modelling.Mono-CD derivatives form non-covalent dimeric tail-to-tail supramolecular structures via the mutual partial penetration, through their primary sides, of axially oriented naphthoxy appended groups and the selfinclusion of the naphthoxy moiety is rather improbable. Non-covalent dimer formation may compete with any guest complexation. Nevertheless, these assemblies can be broken up by decreasing medium polarity or when the appended group is captured by macrorings such as cucurbit[7]urils or native bCDs. Bis-CD derivatives, however, do not exhibit self-association processes which were observed in the monoderivatives. This is because the presence of the bulky naphthoxy group in the spacer keeps the bCD cavities, which are capable of accommodating an external guest, away from each other. The dinaphthoxy group, in the bis-NbCD, was located in a quasi-parallel plane conformation between both CDs.