In this week’s Luxury Briefing, I check in with analysts Luca Solca and Simeon Siegel on the state of Capri as it looks to grow Michael Kors and Jimmy Choo with new executive hires. Also, executive moves at Lanvin, Diane von Furstenberg and Tod’s. For tips or comments, email me at zofia@glossy.coAfter selling Versace to Prada for $1.375 billion in cash in December, Capri Holdings is now only a two-brand company, with its future resting on Michael Kors and Jimmy Choo. Its turnaround comes as price increases across high-end luxury have created an opening for both of these recognizable brands, positioned at comparatively accessible price points.
On Wednesday, Capri reported fourth-quarter revenue of $796 million, down 3.7% year over year. For fiscal 2027, the company expects low-single-digit revenue growth to approximately $3.53 billion, while operating income is expected to increase 60% to approximately $190 million. The Versace sale helped Capri cut net debt to $222 million at the end of fiscal 2026, from approximately $1.4 billion a year earlier. The company also restarted share buybacks, repurchasing $79 million of shares during the fourth quarter and planning a further $200 million in fiscal 2027.
