Browsing: Versace

Capri Holdings Limited, the parent company of luxury brands Versace, Jimmy Choo, and Michael Kors, faces a significant revenue downturn, reporting an 11.6% decrease to $1.26 billion in Q3 fiscal 2025. This decline extends across all brands, with Versace, Jimmy Choo, and Michael Kors witnessing sales drops of 15.0%, 4.2%, and 12.1%, respectively. The company, grappling with a $590 million operating loss driven by a $675 million non-cash impairment charge, is revising its strategies to combat the challenges in the luxury market. Despite these setbacks, Capri is employing strategic initiatives to steer towards recovery, projecting future growth by fiscal 2027. As they navigate these turbulent times, Capri Holdings’ financial adjustments, including a new credit agreement, aim to stabilize operations and reclaim market momentum.