The American group, which owns Michael Kors, Jimmy Choo and Versace (prior to the finalization of its sale to Prada in the second half of the year), ended the 2024-25 financial year on a sour note with double-digit sales declines and heavy losses.
Capri Holdings is not out of the woods yet.
The American fashion group, whose takeover by fellow US company Tapestry was blocked last year by a federal judge, has just unveiled another decline in the fourth quarter.
But while its performance was less disappointing than analysts had expected, Neil Saunders, CEO of analytics firm GlobalData, also pointed out to media outlet Dive that “the market hasn’t fallen as much” as Capri’s sales and that few companies had seen such a sharp decline.
Versace sale finalized in the second quarter of 2025
The group’s revenue thus fell by 15.4% to $1 billion on a reported basis (-14.1% at constant exchange rates) in the fourth quarter of the 2024-25 fiscal year, which ended in March. This includes the activities of its Michael Kors and Jimmy Choo brands, as well as Versace. The sale of the latter for approximately $1.37 billion (€1.2 billion) to the Prada group, announced in mid-April, is not expected to be finalized until the second half of 2025.
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Read also > Michael Kors reshuffles its management – Luxus Plus
Featured photos: © Courtesy of Versace
