Flat sales for Jimmy Choo but ‘strong brand equity’
14/02/2024
Group revenue in the third quarter decreased 5.6% to $1.43 billion.
Jimmy Choo revenue of $166 million fell 1.2%, Versace revenue of $227 million decreased 8.8%, and Michael Kors revenue of $1.03 billion was down 5.6%.
Capri CEO John Idol said: "Our performance in the third quarter continued to be impacted by softening demand for fashion luxury goods. However, sales trends improved sequentially in the third quarter, driven by better results in our own retail channel while sales in our wholesale channel remained challenged.”
However, the group added 10.7 million new consumers to its databases, representing 13% growth versus last year. “In fact, we achieved a new milestone, with our database surpassing 90 million customers. This reflects the strong brand equity and enduring value of our three iconic houses,” added Mr Idol.
The group will complete its merger with Tapestry this year.
Share this story:
