Capri Holdings targets $6.3 billion in revenue
Capri Holdings has outlined its long-term financial goals on Wednesday, forecasting significant growth for Michael Kors, Versace, and Jimmy Choo. The company expects total revenue to reach $4.4 billion in fiscal 2025, growing to $6.3 billion in subsequent years. Michael Kors’ revenue is projected to rise from $3 billion to $4.08 billion, Versace’s from $810 million to $1.5 billion, and Jimmy Choo’s from $600 million to $800 million. This growth plan boosted Capri’s stock price by 2.74%. The company also plans to increase accessories revenue to $2.4 billion and restructure its store network. Additionally, Versace aims to expand accessories, footwear, and menswear, while Jimmy Choo focuses on growing cross-category and geographic sales.