Capri Holdings Reports 16.4% Decrease in Revenue for Q2 of 2025 Fiscal Year
In a surprising turn of events, Capri Holdings – the parent company of luxury fashion brands Michael Kors, Versace, and Jimmy Choo – has reported a significant decrease in revenue for the second quarter of the 2025 fiscal year. According to the company’s latest financial report, revenue dropped by 16.4% to $1.08 billion USD, affecting both retail and wholesale sales.
While Jimmy Choo saw a slight increase of 6% in revenue compared to the same quarter last year, Versace experienced a significant decline of 28.2%, with revenue totaling $201 million USD for the quarter. Michael Kors also reported a decrease in revenue, with a total of $738 million USD, down 16% from last year.
Despite these disappointing results, CEO John D. Idol remains optimistic about the company’s future. “Overall, we were disappointed with our second quarter results as performance continued to be impacted by softening demand globally for fashion luxury goods,” he stated. “However, we are committed to executing our strategic initiatives and driving long-term sustainable growth for all three of our luxury houses.”
It’s worth noting that last summer, Capri Holdings made headlines when it was announced that Coach and Kate Spade owner Tapestry would acquire the company for over $8 billion USD. However, the deal was ultimately blocked by the Federal Trade Commission due to concerns about the potential dominance of the conglomerate in the handbag industry.
