Jimmy Choo's strength offsets ‘headwinds’

05/11/2021
Jimmy Choo's strength offsets ‘headwinds’
Luxury group Capri Holdings, the owner of footwear brand Jimmy Choo, has reported better-than-anticipated second-quarter results with a revenue increase of 17% to $1.3 billion.

Jimmy Choo revenue of $137 million increased 12%, while Capri's luxury brands Versace and Michael Kors rose 45% to $282 million and 11% to  $881 million respectively.

Capri CEO John Idol said: "We remain confident in the strength of our luxury houses and are pleased to be raising revenue and earnings guidance for the year. 


"Our new outlook reflects both stronger revenue performance as well as greater than anticipated gross margin expansion driven by the execution of our strategic initiatives. 

"The success of these initiatives is currently offsetting the covid-19-related industry headwinds including supply chain delays and increased transportation costs.”