Capri Holdings Limited news and archive

Capri Holdings appoints new Director of Talent Acquisition for EMEA

Capri Holdings has announced the appointment of Sunita Solanki as the new Director of Talent Acquisition for the EMEA region. This new role will see Sunita leading talent acquisition efforts across Capri Holdings' portfolio of brands, including Versace, Jimmy Choo, and Michael Kors. Sunita joins Capri Holdings after 2.5 years at Michael Kors,...

ManagementFeatured

Softening demand for luxury fashion impacts Capri Holdings' Q4

Versace parent Capri Holdings Limited reported fourth quarter revenue of 1.223 billion dollars, down 8.4 percent compared to last year. On a constant currency basis, total revenue decreased 7.9 percent. The company said in a statement that total retail sales declined in the mid-single-digits with trends impacted by softening demand globally for...

Report

Capri Holdings appoints Bacardi CEO to its board of directors

Capri Holdings Limited has appointed Mahesh Madhavan to the company’s board of directors effective March 30, 2023. Madhavan, the company said in a statement, will join the compensation and talent committee as well as the governance, nominating and corporate social responsibility committee. As of the date of Madhavan’s appointment, the Capri...

ManagementFeatured

Capri Holdings posts drop in revenue and earnings

Capri Holdings Limited’s third quarter revenue decreased 6 percent on a reported basis and 0.5 percent in constant currency to 1.51 billion dollars. Gross profit was 1.01 billion dollars and gross margin was 66.5 percent compared to 1.05 billion dollars and 65.1 percent in the prior year. Adjusted gross profit was 1 billion dollars and adjusted...

Report

Turnover declines by 66.5 percent at Capri Holdings, posts net loss of 180 million dollars

Capri Holdings Limited’s total revenue of 451 million dollars decreased 66.5 percent for the first quarter, while on a constant currency basis, total revenue decreased 66.2 percent. Gross profit was 302 million dollars and gross margin was 67 percent compared to 834 million dollars and 62 percent in the prior year. Adjusted gross profit was 303...

Business

Capri Holdings Limited completes acquisition of Versace

Michael Kors Limited has completed its change of name to Capri Holdings Limited. From January 2, its ticker symbol at the New York Stock Exchange will be CPRI. Fashion’s new luxury conglomerate, which includes footwear label Jimmy Choo, has also announced it has completed the acquisition of Italian fashion house Versace. The 2 billion US dollar...

Business

Donatella says no Italian companies were interested in buying Versace

After announcing the sale of Versace to Michael Kors Holdings Limited, Donatella Versace was inquired by Italian newspaper Corriere della Sera about the decision to sell the company to an American business, rather than a fellow Italian one. Matteo Salvini, Italy’s Deputy Prime Minister, reacted to the news by saying he’s “fed up” of seeing...

Management |UPDATE

It’s official: Michael Kors buys Versace, company to be renamed Capri Holdings Limited

The rumors were true: Michael Kors Holdings Limited has confirmed the acquisition of Italian luxury house Gianni Versace S.p.A for a total value of 1.83 billion euro (approximately 2.12 billion US dollars). “The acquisition of Versace is an important milestone for our group. Versace was founded in 1978. For over 40 years, Versace has represented...