Versace news and archive

Prada reportedly eyeing Versace takeover

Speculation surrounding Versace’s sale is continuing to mount. It is now believed that Italian luxury giant Prada is eyeing a takeover of the brand. This is according to a report by Italian newspaper Il Sole 24 Ore, which said Prada is looking into the deal with banking firm Citi. The media outlet suggested that the Miu Miu parent was among a...

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Capri Holdings regains confidence and investors: The promising 7.9 percent rise on the stock market

Wall Street often seems dominated by cold, hard financial metrics: profit margins, revenue growth, price-to-earnings ratios, and other indicators. But those numbers don’t tell the whole story, Evan Clark says in his analysis for WWD. Investor sentiment plays an equally powerful role in stock market performance. For Capri Holdings, the parent...

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Are Versace and Jimmy Choo up for sale?

Just weeks after a proposed merger between fashion giants Tapestry and Capri Holdings was upended, it appears the latter could be doing some spring cleaning among its portfolio. Speculation has begun circulating that Capri has put both Versace and Jimmy Choo up for sale, which would leave the luxury group with just Michael Kors under its...

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Versace parent Capri Holdings records drop in revenue and profit

Capri Holdings Limited reported a revenue decrease of 16.4 percent on a reported basis and 16.4 percent in constant currency to 1.08 billion dollars. The company’s retail sales declined high-single-digits with trends being impacted by softening demand globally for fashion luxury goods. In wholesale, revenue decreased double-digits driven by...

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Tapestry x Capri merger blocked: What does this mean for the ‘accessible’ fashion market?

On Thursday, October 24, a US judge opted to block Tapestry’s attempt to buy competitor Capri Holdings, with “loss of head-to-head competition” cited as the reasoning. The case, first brought forward in a lawsuit by the Federal Trade Commission (FTC), became high profile due to its involvement of notable executives and the fact that the merger...

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Video: Versace SS25

Watch Versace’s runway show at Milan Fashion Week showcasing their SS25 collection. Promotion Read more about Versace on their brandpage

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Capri Holdings sees ‘disappointing’ drop in Q1 revenue, slides into red

“We were disappointed with our first quarter results as performance continued to be impacted by softening demand globally for fashion luxury goods,” John Idol, Capri Holding’s chairman and chief executive officer, began in a statement to the press as the company slid into the red. Indeed, the luxury group continued to tackle dampening demand...

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As Michael Kors navigates UK sales dip, prices are likely to rise

The luxury fashion industry is navigating a period of adjustment as consumer spending on high-end goods shows signs of slowing down following a post-pandemic boom. Michael Kors, the US-based fashion brand operated by Capri Holdings, has reported a significant decline in its UK sales for the year ending April 2023. According to This is Money,...

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Versace appoints Mathieu Baboulène as global director of communications

To strengthen its presence on the international stage, the Italian luxury fashion house Versace has entrusted its communication to Mathieu Baboulène, an industry veteran with more than 20 years of experience having worked with fashion houses such as Kenzo, Coach, Maison Margiela and Dries Van Noten. After four years as global director of public...

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Softening demand for luxury fashion impacts Capri Holdings' Q4

Versace parent Capri Holdings Limited reported fourth quarter revenue of 1.223 billion dollars, down 8.4 percent compared to last year. On a constant currency basis, total revenue decreased 7.9 percent. The company said in a statement that total retail sales declined in the mid-single-digits with trends impacted by softening demand globally for...

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Tapestry and Capri merger gains EU and Japan antitrust approval

The planned merger between luxury powerhouses Tapestry and Capri Holdings has been approved by market regulators in both Japan and the European Union, bringing the duo one step closer to their goal. In a regulatory filing, Tapestry confirmed the news that the merger plan had been cleared by the European Commission under the EU Merger Regulation...

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Soft luxury demand impacts Capri Holdings Q3

Capri Holdings’ third quarter revenue of 1.43 billion dollars decreased 5.6 percent compared to last year. On a constant currency basis, total revenue decreased 6.6 percent. The company said in a statement that retail sales declined in the mid-single-digits with trends being impacted by softening luxury consumer demand primarily in the Americas...