Capri Holdings Sells Versace to Prada, Focuses on Michael Kors Growth

Published 1 days agoCPRI

Capri Holdings Sells Versace to Prada, Focuses on Michael Kors Growth

Capri Holdings recently announced the sale of its Versace brand to Prada for €1.25 billion. This strategic decision marks a shift for Capri as it zeroes in on its core brands. Reuters reported this move aligns with Capri’s broader strategy to revitalize and focus resources on its other key labels, particularly Michael Kors.

Financially, Capri Holdings projects its total revenue to reach $4.4 billion in Fiscal Year 2025, with Michael Kors expected to contribute $3.0 billion, Versace $810 million, and Jimmy Choo $600 million. However, a slight dip is anticipated in Fiscal Year 2026, with total revenue predicted to decrease to $4.1 billion. Michael Kors’ revenue is expected to drop to $2.75 billion, Versace to $800 million, and Jimmy Choo to $550 million, as highlighted by Nasdaq.

In response to these changes, Capri is making strategic investments to bolster Michael Kors. This includes implementing new pricing strategies and expanding distribution channels, such as launching Michael Kors on Amazon. Despite these efforts, the company faces challenges, evidenced by a recent 15.4% quarterly revenue decline. Capri remains optimistic, though, aiming for long-term growth with increased revenues and improved operating margins for Michael Kors and Jimmy Choo, according to Reuters.

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