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The global fashion business journal

Oct 19, 20196:27am

Michael Kors owner grows 12% in Q1 raised by Versace

The American holding Capri grows 12% in the first quarter with a net benefit of 45 million dollars, 75.8% downed by the new accounting regulations.

Aug 7, 2019 — 4:38pm
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Michael Kors owner grows 12% in Q1 raised by Versace

 

 

Capri saves Q1 thanks to Versace. The American giant luxury group, owner of Michael Kors and Jimmy Choo, has closed the first three months of its semester ended 29th of June with a net benefit of 45 million dollars, 75.8% less than same period last year.

 

The ebitda of the company has also dropped during the period, up to 75%. Sales, on the other hand, have registered a rise of 11.8%, up to 1.3 billion dollars.

 

Versace was the one with the best performance, the Italian house that switch hands to the American holding last December, has a revenue of 207 million dollars in the first quarter.

 

 

 

 

Michael Kors and Jimmy Choo, on the other hand, ended the period on the low. The footwear brand dropped 8.6%. up to 158 million dollars, while Michael Kors dropped 4.7%, up to 981 million dollars.

 

Despite all, John D. Idol, president and CEO of Capri, has pointed that he is pleased with the results during the period and maintains his forecasts for the end of the year. The executive pointed that the groups short term goals are to overcome 8 billion dollars per year. 

 

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