Capri Holdings losses amount to USD 1.08 billion

The luxury conglomerate, which owns Versace, Jimmy Choo and Michael Kors, decreased its revenues by 16.4% in the second quarter of fiscal year 2025.

All indications are that the main reason for the losses is a general cooling in demand for luxury goods. Versace closed the quarter with a 28.2% plunge and Michael Kors‘ sales fell by 16%. However, despite these poor results, Jimmy Choo managed to increase by 6% year-on-year.

John D. Idol, CEO of Capri Holdings, commented: ‘Our second quarter results were disappointing as we continue to face weakening global demand in the luxury fashion segment. However, we remain committed to executing our strategies to ensure long-term sustainable growth across our three flagship brands.’

And speaking of Versace… Check out Ningning at the helm of the Holiday 2024 campaign.