Capri confident of resilience in luxury sector
Luxury group Capri Group has celebrated record revenues at Versace and Jimmy Choo in the financial year 2023, with mid-single-digit revenue growth at Michael Kors.
Sales of women's footwear increased low double-digits at Versace and Michael Kors and high single-digits at Jimmy Choo.
Sales of women’s accessories increased over 40% at Versace, over 20% at Jimmy Choo and low-single-digits at Michael Kors.
However, the fourth quarter of the year was more challenging, with sales dipping 10%.
Capri CEO, John Idol, said: “With Versace, Jimmy Choo and Michael Kors we have three incredibly powerful brands to drive our growth. While we recognise that there are near-term uncertainties in the Americas, we are encouraged by the strong trends in Asia and continued growth in EMEA (Europe, Middle East and Africa).
“Looking to fiscal 2024, we anticipate revenue will increase low-single-digits and earnings per share will increase mid-single-digits. Beyond fiscal 2024, we remain confident in our ability to achieve our long-term goals over time due to the resilience of the luxury industry, the strength of our three powerful iconic brands and the talented group of employees executing our strategic initiatives.”
The group returned $1.35 billion to shareholders in fiscal 2023.
Image: Jimmy Choo.
