The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Capri Holdings Ltd on Wednesday forecast annual revenue above Wall Street expectations, betting on shoppers returning to stores in the United States following speedy vaccinations and pent-up demand for luxury goods in Europe.
The Michael Kors and Versace parent expects revenue of about $5.1 billion for its fiscal 2022. Analysts were estimating $4.99 billion, according to IBES data from Refinitiv.
The company beat estimates for fourth-quarter revenue, fuelled by robust demand for its high-end bags and purses across markets.
Revenue edged higher to $1.20 billion in the three months ended March 27, from $1.19 billion a year earlier, the owner of Versace and Jimmy Choo said.
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Analysts had expected $1.02 billion, according to IBES data from Refinitiv.
By Nivedita Balu; Editor: Sriraj Kalluvila
The Rome-based couture house’s bet on Rome’s most bankable design talent could help it punch above its weight.
The duo behind Skims are taking a minority stake in the luxury cashmere label, with an eye on scaling the cult brand.
After headline pieces — sometimes formerly owned by celebrities or featured on TV — sell for blockbuster prices, they can end up pretty much anywhere, from museums to collectors’ closets.
Serre, who grew sales by 20 percent in 2023, has been named Pitti Uomo’s next guest designer. She’s using the opportunity to show her men’s collection for the first time.