Capri Charts Post-Versace Comeback With Michael Kors Revamp, Jimmy Choo Growth

Capri is refocusing after selling Versace, with management now concentrating on Michael Kors and Jimmy Choo while using a stronger balance sheet to invest in store refreshes, marketing and product changes.

Michael Kors is in the early stages of a turnaround: Capri is targeting younger shoppers, cutting SKUs and promotions, and leaning on new handbag icons and better pricing to restore growth and margins.

Jimmy Choo is already growing again, led by double-digit accessories growth and broader footwear expansion, with Capri expecting the brand to return to profitability in fiscal 2027.

Capri executives said the company is entering a more focused phase after the sale of Versace, with management emphasizing growth plans for Michael Kors and Jimmy Choo, store renovations, tighter product assortments and a stronger balance sheet.

Speaking at Bernstein’s Retail Forum in New York, Capri Chief Executive Officer John Idol and Chief Financial Officer Tyler Reddien outlined the company’s efforts to reposition Michael Kors, expand Jimmy Choo and return the business to growth.

Idol said Capri ended the year with “a little over $200 million in debt,” giving the company flexibility to invest in its remaining two brands.

He said management believes Michael Kors can return to approximately $4 billion in revenue from an estimated $2.93 billion this year, while Jimmy Choo can grow to $800 million from roughly $600 million.

Idol said Capri decided to take a “more mod...