Capri Holdings – the parent company of Michael Kors, Versace and Jimmy Choo – has reported a 16.4% decrease in revenue for the second quarter of the 2025 fiscal year. The company’s revenue dropped to $1.08 billion USD, falling across retail and wholesale sales.
While revenue at Jimmy Choo increased by around 6% from the same quarter last year, Versace’s revenue dropped by 28.2%, clocking in at $201 million USD for the quarter. Michael Kors, meanwhile, reported a revenue of $738 million USD, down 16% since last year.
“Overall, we were disappointed with our second quarter results as performance continued to be impacted by softening demand globally for fashion luxury goods,” CEO John D. Idol said. “Despite the challenging global retail environment, we remain focused on executing our strategic initiatives to deliver long-term sustainable growth across all three of our luxury houses.”
Last summer, Coach and Kate Spade owner Tapestry announced its plan to buy Capri for over $8 billion USD. The deal was blocked by the Federal Trade Commission due to concerns that the merger would give the conglomerate dominance over the handbag industry.
Click here to view full gallery at Hypebeast
