Michael Kors news and archive

Capri Holdings regains confidence and investors: The promising 7.9 percent rise on the stock market

Wall Street often seems dominated by cold, hard financial metrics: profit margins, revenue growth, price-to-earnings ratios, and other indicators. But those numbers don’t tell the whole story, Evan Clark says in his analysis for WWD. Investor sentiment plays an equally powerful role in stock market performance. For Capri Holdings, the parent...

BusinessFeatured

Are Versace and Jimmy Choo up for sale?

Just weeks after a proposed merger between fashion giants Tapestry and Capri Holdings was upended, it appears the latter could be doing some spring cleaning among its portfolio. Speculation has begun circulating that Capri has put both Versace and Jimmy Choo up for sale, which would leave the luxury group with just Michael Kors under its...

PeopleFeatured

Capri chairman to become Michael Kors CEO, among other leadership shifts

Luxury group Capri Holdings Limited has administered a series of shifts to the leadership team of its brand, Michael Kors. The most notable change is that its own chairman and chief executive officer, John Idol, is to assume the role of chief executive for the premium brand, a position he will officially take up from December 2, 2024. Idol will...

BusinessFeatured

Capri Holdings and Tapestry terminate merger deal

Capri Holdings Limited and Tapestry Inc. have reached an agreement to terminate their merger arrangement, Capri announced in a press release. The news comes after a judge blocked the multi-billion dollar deal. Capri and Tapestry have said they are finally pulling the plug on their multi-billion dollar deal "in the best interest of both...

Business

Versace parent Capri Holdings records drop in revenue and profit

Capri Holdings Limited reported a revenue decrease of 16.4 percent on a reported basis and 16.4 percent in constant currency to 1.08 billion dollars. The company’s retail sales declined high-single-digits with trends being impacted by softening demand globally for fashion luxury goods. In wholesale, revenue decreased double-digits driven by...

BusinessFeatured

Tapestry x Capri merger blocked: What does this mean for the ‘accessible’ fashion market?

On Thursday, October 24, a US judge opted to block Tapestry’s attempt to buy competitor Capri Holdings, with “loss of head-to-head competition” cited as the reasoning. The case, first brought forward in a lawsuit by the Federal Trade Commission (FTC), became high profile due to its involvement of notable executives and the fact that the merger...

Business

FTC trial against Capri and Tapestry merger ends, judge’s decision awaits

A trial brought by the US Federal Trade Commission (FTC) against a potential merger of luxury goods giants Tapestry and Capri Holdings was brought to a close on Monday, with a federal judge's decision now being awaited. The FTC brought the antitrust case against the duo after Coach-owner Tapestry announced its intention to acquire competitor...

Retail

Michael Kors opens temporary London store

US fashion label Michael Kors has unveiled a new temporary store location in London as its yet-to-be-unveiled flagship store in the city undergoes construction. Located at 9 Old Bond Street, the temporary site will house Michael Michael Kors, Michael Kors Mens and Michael Kors Collection among its stock. This will serve as one of the brand’s...

Business

Tapestry's Capri Holdings acquisition faces FTC opposition

The fate of Capri Holdings, the parent company of Michael Kors, is on hold following an ongoing Federal Trade Commission (FTC) lawsuit challenging Tapestry's proposed 8.5 billion dollar acquisition of the group. According to the FTC, the merger of the Coach and Kate Spade brands, owned by the multinational holding company Tapestry, with Michael...

Fashion

Nominees of 2024 CFDA Fashion Awards named, Isabel Toledo to be honoured

The nominees of the 2024 CFDA Fashion Awards have been announced as the council, together with headline sponsor Amazon Fashion, looks to continue celebrating designers and innovators impacting American fashion. Nominees for the American Womenswear Designer of the Year are; • Rachel Scott for Diotima • Marc Jacobs • Jack McCollough and Lazaro...

Fashion

Michael Kors brings Italian air to New York Fashion Week

Fashion designer Michael Kors brought an Italian air to New York Fashion Week, presenting his Spring/Summer 2025 collection Tuesday as the brand remains embroiled in a legal battle with competition authorities. The show at a Manhattan cultural space followed the start of hearings in New York this week over the US antitrust agency seeking to...

BusinessFeatured

Capri Holdings sees ‘disappointing’ drop in Q1 revenue, slides into red

“We were disappointed with our first quarter results as performance continued to be impacted by softening demand globally for fashion luxury goods,” John Idol, Capri Holding’s chairman and chief executive officer, began in a statement to the press as the company slid into the red. Indeed, the luxury group continued to tackle dampening demand...