Flat revenue for rebranded Michael Kors group
13/02/2019
The Michael Kors brand, which has retained its name, achieved revenue of $838 million, down 1% year-on-year. This was primarily down to a 2.4% drop in comparable store sales.
Jimmy Choo, which Capri acquired in November 2017, contributed revenue of $161.6 million. The group said this represents a mid-single digit increase compared to Jimmy Choo’s stand-alone results from the previous year.
Capri changed its name in January after completing the acquisition of Italian luxury fashion house Gianni Versace. It expects Versace to contribute revenue of around $130 million to its full-year results, which it has said will be around $5.22 billion. The majority of this will come from the Michael Kors brand.
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