Home / Knowledge / News / Apparel/Garments / Capri Holdings revenue up 11% to $5.238 bn in FY2019

Capri Holdings revenue up 11% to $5.238 bn in FY2019

01
Jun '19
Pic: Capri Holdings
Pic: Capri Holdings
Capri Holdings Ltd, a global fashion luxury group, has reported revenue growth of 13.9 per cent to $1.344 billion for Q4 of FY2019, ending March 30, 2019. This is compared to $1.180 billion revenue reported in Q4 of FY2018. For the full year, the revenue of the company grew 11 per cent to $5.238 billion as compared to $4.719 in full year of FY2018.

Capri Holdings now operates in three reportable segments representing the brands Versace, Jimmy Choo and Michael Kors. The company had acquired Versace on December 31, 2018.

For the fourth quarter of fiscal 2019, the brand Versace recorded revenue of $137 million, according to a press release by Capri Holdings. Jimmy Choo recorded revenue of $139 million in Q4, an increase of 28.7 per cent, compared to the prior year. Michael Kors recorded revenue of $1.068 billion in Q4, a decrease of 0.4 per cent, compared to Q4 of prior year.

“Fiscal 2019 was a transformational year for Capri Holdings. We expanded our fashion luxury group with the addition of Versace, one of the world’s most storied Italian luxury brands. Jimmy Choo delivered strong results and we continued to execute against Michael Kors’ three strategic growth pillars of product innovation, brand engagement and customer experience. For the year, we were pleased that our luxury group delivered both double digit revenue and adjusted earnings per share growth,” said John D Idol, the company’s chairman and chief executive officer.

For the first quarter of FY2020, the company expects total revenue of approximately $1.36 billion. For the full year, the company expects total revenue of approximately $6.0 billion.

“Looking ahead, fiscal 2020 will be an investment year for our group, and we believe our initiatives will deliver strong revenue growth for Capri Holdings. Longer term, our three brands position Capri Holdings to accelerate revenue from $6 billion to $8 billion dollars, which will be led by Versace and Jimmy Choo, with Michael Kors remaining a strong foundation for Capri Holdings. We expect to grow Versace from $900 million to $2 billion dollars in revenue, expand Jimmy Choo from nearly $600 million to $1 billion in revenue, while building Michael Kors from $4.5 billion to $5.0 billion in revenue. Taken together, we believe our three iconic, founder-led fashion brands position Capri Holdings to deliver multiple years of earnings growth,” added Idol. (PC)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 21st Sep 2020

UK govt extends support to stop business evictions

UK businesses will be protected from the threat of eviction until...

Pic: Shutterstock

Textiles | On 21st Sep 2020

AAFA testifies before House committee on PRC forced labour

The situation arising out of forced labour in China's Xinjiang Uyghur ...

Land allotted for 2 textile units in Vietnam park

Textiles | On 21st Sep 2020

Land allotted for 2 textile units in Vietnam park

Land was recently handed over to Top Textiles Limited and Jehong...

Interviews View All

Textile industry, Head honchos

Textile industry
Head honchos

Relaxation in FDI norms will support growth of retail sector

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Matthias Eilert,

Matthias Eilert

Germany-based Forbo Movement Systems division is a global leader in...

DP Kumar,

DP Kumar

Weaves is South India's premier textile fair organised by Texvalley in...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search