All Capri brands exceed Q1 expectations
Capri Holdings, the parent group of Versace, Jimmy Choo and Michael Kors, has said its revenues for the first quarter of its current fiscal year showed an increase of 178% year on year.
Revenues for the three-month period ending June 26, 2021, reached $1.25 billion.
Michael Kors’s contribution to the total was $871 million, up by 184% compared to the same quarter a year earlier.
For Versace, revenues were $240 million, growth of 158%, while the figure for Jimmy Choo was $142 million, up by 178% year on year.
Chief executive, John Idol, said on announcing the results: “All of our luxury houses significantly exceeded our expectations for the quarter, as they continued to deepen consumer desire and engagement.”
He said he Capri was confident of further growth opportunities for Versace, Jimmy Choo and Michael Kors as the world continues to recover from the impact of the global pandemic.
