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• A multi-brand luxury fashion group, similar to a smaller LVMH.
• Like Kering, but with iconic brands such as Versace, Michael Kors, and Jimmy Choo.

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• Apparel: Designs, markets, distributes, and retails branded women's and men's ready-to-wear clothing.
• Footwear: Designs, markets, distributes, and retails branded women's and men's shoes.
• Accessories: Designs, markets, distributes, and retails a variety of branded items including eyewear, watches, jewelry, and fragrances.
• Home Furnishings: Offers branded home decor items.
• Brand Licensing: Grants third parties the right to manufacture, sell, and retail products using its brand names and trademarks.

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Capri Holdings Limited (CPRI) sells primarily to individuals through its own global network of boutiques and e-commerce sites for its Versace, Jimmy Choo, and Michael Kors brands. While it also engages in wholesale distribution to department and specialty stores and licensing agreements, a significant portion of its revenue is generated through direct-to-consumer channels.

The major categories of individual customers that Capri Holdings Limited serves include:

1. Affluent & High-Net-Worth Individuals (HNWIs): These customers are typically seeking high-end luxury, exclusivity, superior craftsmanship, and the prestige associated with brands like Versace and Jimmy Choo. They have significant disposable income and are frequent purchasers of luxury apparel, footwear, and accessories.
2. Fashion-Conscious & Trend-Driven Consumers: This broad category includes individuals who prioritize style, brand recognition, and current fashion trends across various price points within the luxury and premium segments. Michael Kors, in particular, appeals strongly to this demographic, offering accessible luxury items that blend contemporary style with brand allure.
3. Aspirational & Occasional Luxury Buyers: These customers are drawn to Capri's brands for their aspirational value, often making purchases for special occasions, as gifts, or as a treat. They value the brand's image and quality, making considered purchases of key items such as handbags, shoes, or accessories, even if they do not regularly buy luxury goods.

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John D. Idol, Chairman and Chief Executive Officer

Mr. Idol has served as Chairman of Capri Holdings Limited since September 2011 and as Chief Executive Officer and a director since December 2003. He previously held roles as Chairman and Chief Executive Officer of Kasper ASL, Ltd. (2001-2003), and Chief Executive Officer and a director of Donna Karan International Inc. (1997-2001). Prior to that, he was Ralph Lauren's Group President and Chief Operating Officer of Product Licensing, Home Collection, and Men's Collection from 1994 to 1997. Mr. Idol joined Michael Kors in 2003 through a partnership with Sportswear Holdings Limited, a private equity firm, playing a key role in transforming the brand into a major international player and taking the company public in 2011. Under his leadership, Michael Kors Holdings was rebranded as Capri Holdings Limited in 2019 following the acquisitions of Jimmy Choo and Versace.

Tyler Reddien, Chief Financial Officer and Chief Operating Officer (effective March 30, 2026)

Mr. Reddien is appointed as Chief Financial Officer and Chief Operating Officer of Capri Holdings Limited, effective March 30, 2026. He joins Capri from senior finance and operations roles at The Body Shop, Natura &Co, Hertz, and United Airlines, bringing extensive experience in transformation and performance improvement. From 2019 through 2024, he held senior finance and strategy roles at Natura &Co. Rajal Mehta is the Interim Chief Financial Officer until March 30, 2026, after which he will resume his role as Chief Financial Officer of the Michael Kors brand.

Jenna Hendricks, Chief People Officer

Ms. Hendricks assumed the role of Chief People Officer in June 2021 and is responsible for leading the company's global people function, including talent acquisition, learning and development, total rewards, and HR systems. She also oversees global internal communications, loss prevention, and security. Ms. Hendricks has been with the company since 2004, holding various human resources roles of increasing responsibility, including Senior Vice President, Global Human Resources for Michael Kors from July 2019.

Krista A. McDonough, Chief Legal and Sustainability Officer

Ms. McDonough is the Chief Legal and Sustainability Officer of Capri Holdings. In this role, she is responsible for leading the company's worldwide legal, compliance, and risk management functions, as well as its corporate social responsibility and sustainability initiatives. She previously served as the General Counsel since October 2016 and Chief Sustainability Officer since 2020. Ms. McDonough joined Capri Holdings in August 2011, having held various legal and advisory roles of increasing responsibility.

Cedric Wilmotte, Chief Executive Officer, Michael Kors brand

Mr. Wilmotte was appointed Chief Executive Officer of the Michael Kors brand, effective April 3, 2023. Prior to this, he served as interim Chief Executive Officer for Versace from January through September 2022 and is currently Versace's Chief Operating Officer. Mr. Wilmotte previously led the Michael Kors EMEA (Europe, Middle East, and Africa) business from its inception in 2008 through 2021. Before joining Michael Kors, he held senior leadership positions at Marc Jacobs from 2004 to 2008 and at Donna Karan in New York, London, and Milan from 1998 to 2004.

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1. Weakness in Core Brands and Declining Revenue: Capri Holdings Limited faces significant operational risk due to the consistent weakness and declining revenue of its core brands, particularly Michael Kors, which represents a substantial portion of the company's total revenue. The company reported an adjusted net loss of $581 million in the fourth quarter of fiscal 2025 and projected a further decline in total revenue for fiscal year 2026. This points to potential brand fatigue and an urgent need for successful product innovation to drive full-price sales.

2. Macroeconomic Headwinds and Volatile Consumer Preferences: The luxury fashion industry in which Capri operates is highly susceptible to global macroeconomic uncertainties, including economic downturns, inflationary pressures, high consumer debt levels, and fluctuating currency exchange rates. These factors directly impact consumer spending on discretionary luxury items. Furthermore, the company's long-term business performance is inherently volatile and unreliable due to rapidly changing consumer preferences and fashion trends. This has contributed to the company incurring losses in several of the past years.

3. Impact of Strategic Restructuring and the Versace Sale: The definitive agreement to sell Versace to Prada Group, expected to close in the second half of calendar 2025, represents a massive structural shift for Capri Holdings. While intended to reduce debt and allow for a focused turnaround of Michael Kors and growth of Jimmy Choo, the company's future prospects are heavily dependent on the successful execution of this restructuring and the ability to revitalize its remaining key brands. The termination of the previously proposed merger with Tapestry also presented challenges and uncertainties to the business.

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The increasing prominence and sophistication of luxury resale platforms and business models, which offer consumers pre-owned luxury goods as an alternative to purchasing new items from brands like those owned by Capri. This trend can potentially cannibalize new product sales and impact brand exclusivity and pricing power.

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Capri Holdings Limited (CPRI) operates within several substantial addressable markets for its luxury apparel, footwear, and accessories, including handbags, watches, jewelry, and fragrances, as well as home furnishings. The market sizes vary by product category and geographic region.

Luxury Apparel

The global luxury apparel market was valued at approximately USD 103.08 billion in 2024 and is projected to grow to USD 180.16 billion by 2033. Another source estimated the market at USD 70.44 billion in 2025, forecasted to reach USD 116.41 billion by 2034. Europe dominated this market with a 34.41% share in 2025. The luxury clothing market is also projected to reach USD 364.4 billion by 2030, growing from USD 274.8 billion in 2025. North America and Europe are noted as the largest markets for luxury clothing.

Luxury Footwear

The global luxury footwear market was valued at an estimated USD 28.9 billion in 2026 and is projected to reach USD 45.2 billion by 2033. Another report indicates a market size of USD 41.29 billion in 2025, expected to reach USD 76.48 billion by 2034. Europe holds the largest regional share, commanding approximately 34% of the global luxury footwear market in 2025.

Handbags

The global handbag market size was estimated at USD 66.76 billion in 2024 and is projected to reach USD 106.26 billion by 2033. Other estimates place the global market size at USD 64.41 billion in 2025, projected to reach USD 120.43 billion by 2034. North America led the international market with the greatest revenue share of over 30% in 2021. However, Europe dominated the handbag market with a market share of 32.82% in 2025.

Jewelry

The global jewelry market was valued at USD 242.79 billion in 2025 and is projected to grow to USD 387.36 billion by 2034. Asia Pacific dominated the jewelry market with a market share of 39.23% in 2025. Another source estimated the global jewelry market size at USD 381.54 billion in 2025, expected to reach USD 578.45 billion by 2033. Yet another report indicates a market size of USD 389.13 billion in 2024, predicted to grow to USD 649.51 billion by 2034. Asia Pacific held the largest share of the global jewelry market in 2025, accounting for 60.4%. The North America jewelry industry is expected to register a CAGR of 8.4% during 2026–2034.

Watches

The global watches market size was estimated at USD 69.10 billion in 2025 and is projected to reach USD 96.81 billion by 2033. Asia Pacific held a market share of 49.20% in 2025. The luxury watch market size was valued at USD 45.0 billion in 2025 and is projected to reach USD 61.2 billion by 2032. Another estimate indicates the global watch market size was USD 101.05 billion in 2023.

Fragrances

The global fragrance market size was estimated at USD 58.89 billion in 2025 and is projected to reach USD 89.41 billion by 2033. Europe accounted for the largest revenue share of 28.6% in 2025 within the fragrance market. Another source indicates the global perfume market is on track to achieve a valuation of USD 69.7 billion in 2026, accelerating to USD 119.1 billion by 2036. Europe dominated the flavors and fragrances market with a market share of 30.9% in 2025. North America had a market value of USD 10.92 billion in 2024, and Europe had a valuation of USD 12.58 billion.

Home Furnishings

The global home furnishing market size was valued at USD 755.03 billion in 2024 and is projected to grow to USD 957.55 billion by 2032. North America dominated the global home furnishing market with a market share of 40.41% in 2024. Another report estimates the global home furnishing market size at USD 1,018.2 billion in 2024 and projects it to reach USD 1,703.86 billion by 2030. The global home furnishings market size is also estimated at USD 990.55 billion in 2025, set to expand to USD 1,556.28 billion by 2034. The global home furniture market is expected to grow from USD 508.59 billion in 2025 to USD 646.86 billion by 2031. Asia-Pacific accounted for 38.02% of global home furniture revenue in 2025.

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Capri Holdings Limited (CPRI) is expected to drive future revenue growth over the next 2-3 years through several key strategic initiatives, primarily focusing on its Michael Kors and Jimmy Choo brands following the divestiture of Versace.

1. Michael Kors Brand Revitalization: Capri Holdings plans substantial investments to reinvigorate the Michael Kors brand. This includes a $300 million investment over three years to renovate 350 Michael Kors stores, introducing new designs and "Jet Set Lounges" to enhance the customer experience. The strategy also emphasizes modernizing the brand image through new marketing efforts and a focus on introducing new products, with an aim for 75% new merchandise by mid-year. Additionally, the company is refining its pricing strategy to better align with consumer expectations and reduce promotional activity, aiming to drive full-price sales and improve retail performance.
2. Jimmy Choo Product Diversification and Category Expansion: Jimmy Choo is pursuing growth by broadening and diversifying its product offerings. Strategic priorities include increasing the proportion of daytime footwear to 60% of total revenue and significantly expanding the accessories business to reach 30% of overall turnover. The brand is also targeting a doubling of its menswear business, viewing it as a substantial growth opportunity. Recent collections across footwear and accessories have shown strong consumer response, indicating momentum in these expanded categories.
3. Enhanced Customer Experience and Omni-channel Development: The company is focused on improving customer engagement and the overall shopping experience for both brands. This involves investing in technology and omni-channel strategies, alongside the physical store upgrades for Michael Kors. A reported 8% year-over-year increase in the consumer database for Capri Holdings indicates continued engagement with its target audience.
4. Strategic Geographic Focus: While facing some regional declines, Capri Holdings is observing growth in specific geographic markets. The EMEA region (Europe, Middle East, Africa) showed positive revenue trends for both Michael Kors and Jimmy Choo in recent quarters. The company also anticipates a rebound in the Asian market, particularly China, contributing to future growth.

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Share Repurchases

• Capri Holdings Limited authorized a new $1 billion share repurchase program on November 4, 2025, which is expected to commence in fiscal year 2027.
• The company's annual share repurchases were $4 million in 2025 and $107 million in 2024.
• Over the last five years (2021-2025), Capri's shares repurchased averaged $125.5 million, with a high of $400 million in Q2 2023.

Share Issuance

• Capri Holdings Limited filed to register 2,500,000 additional ordinary shares under its Fourth Amended & Restated Omnibus Incentive Plan, approved on August 7, 2025, bringing the total registered under the plan to 24,971,000 shares.
• Interim CFO Rajal Mehta holds 10,741 ordinary shares directly and 45,843 restricted share units (RSUs) granted between 2023 and 2025, with vesting scheduled from 2024 to 2028.

Capital Expenditures

• Capri's capital expenditures averaged $157 million for fiscal years ending March 2021 to 2025.
• Capital expenditures peaked at $226 million in April 2023 and were $111 million in March 2021.
• For fiscal year 2026, Capri Holdings expects capital expenditures to be approximately $100 million, with a focus on renovating about 50% of its store fleet and key department store locations over the next three years, including experiential elements.