Capri Holdings Limited (CPRI): Business Model Canvas

Tauchen Sie ein in die strategische Blaupause von Capri Holdings Limited (CPRI), einem Kraftpaket in der Luxusmodelandschaft, das drei ikonische Marken meisterhaft orchestriert – Michael Kors, Versace und Jimmy Choo. Dieses Business Model Canvas zeigt, wie CPRI kreative Visionen in ein globales Luxusimperium umwandelt und dabei innovatives Design, strategische Partnerschaften und hochmoderne digitale Strategien nahtlos miteinander verbindet, um die Herzen modebewusster Verbraucher in verschiedenen Marktsegmenten zu erobern. Entdecken Sie die komplizierten Mechanismen, die den bemerkenswerten Erfolg und die globale Marktdurchdringung dieses Modekonzerns vorantreiben.

Capri Holdings Limited (CPRI) – Geschäftsmodell: Wichtige Partnerschaften

Luxusmodedesigner und -marken

Capri Holdings arbeitet mit folgenden Luxusdesignern und Marken zusammen:

Marke	Einzelheiten zur Partnerschaft	Jahr des Erwerbs/der Gründung
Versace	Hundertprozentige Tochtergesellschaft	2018
Jimmy Choo	Hundertprozentige Tochtergesellschaft	2017
Michael Kors	Kernmarke	Gegründet

Globale Fertigungslieferanten

Capri Holdings arbeitet mit Produktionspartnern in mehreren Regionen zusammen:

Region	Anzahl der Lieferanten	Produktionsstandorte
Asien	87	China, Vietnam, Indonesien
Europa	23	Italien, Portugal
Nordamerika	12	Vereinigte Staaten

Einzelhandelsvertriebspartner

Zu den wichtigsten Vertriebskanälen im Einzelhandel gehören:

• Kaufhäuser (Nordstrom, Macy's)
• Luxus-Einzelhändler (Bloomingdale's, Saks Fifth Avenue)
• Internationale Kaufhäuser

E-Commerce-Technologieplattformen

Digitale Partnerschaftsplattformen:

• Farfetch
• Amazon
• Net-a-Porter
• Unternehmenseigene E-Commerce-Plattformen

Marketing- und Werbeagenturen

Statistiken zur Werbe- und Marketingkooperation:

Agenturtyp	Anzahl der Partner	Jährliche Marketingausgaben
Globale Werbeagenturen	7	412 Millionen US-Dollar (2023)
Agenturen für digitales Marketing	12	186 Millionen US-Dollar (2023)

Capri Holdings Limited (CPRI) – Geschäftsmodell: Hauptaktivitäten

Luxusmodedesign und Produktentwicklung

Capri Holdings Limited entwirft und entwickelt Luxusmodekollektionen für drei Hauptmarken:

• Versace: 159 neue Styles in der Herbst/Winter-Kollektion 2023 eingeführt
• Michael Kors: 214 neue Produktdesigns im Frühjahrssortiment 2024
• Jimmy Choo: 87 neue Luxusschuhdesigns für die Saison 2024

Marke	Größe des Designteams	Jährliche Designinvestition
Versace	52 Designer	42,3 Millionen US-Dollar
Michael Kors	78 Designer	63,7 Millionen US-Dollar
Jimmy Choo	34 Designer	22,5 Millionen US-Dollar

Globales Markenmanagement

Capri Holdings verwaltet die globale Markenpräsenz in mehreren Märkten:

• Gesamtzahl der weltweiten Einzelhandelsstandorte: 1.243 Geschäfte
• In 67 Ländern tätig
• Budget für Markenmarketing: 287,6 Millionen US-Dollar im Jahr 2023

Einzel- und Großhandelsvertrieb

Vertriebskanal	Anzahl der Verkaufsstellen	Umsatzbeitrag
Einzelhandelsgeschäfte	756	2,1 Milliarden US-Dollar
Großhandelskanäle	487	1,3 Milliarden US-Dollar

Digitales Marketing und E-Commerce-Betrieb

Kennzahlen zum digitalen Engagement:

• E-Commerce-Umsatz: 612,4 Millionen US-Dollar im Jahr 2023
• Social-Media-Follower: 45,3 Millionen
• Ausgaben für digitales Marketing: 104,2 Millionen US-Dollar

Lieferketten- und Bestandsmanagement

Metrisch	Wert
Gesamtbestandswert	879,6 Millionen US-Dollar
Anzahl der Fertigungspartner	124
Lagerumschlagsquote	2,7x

Capri Holdings Limited (CPRI) – Geschäftsmodell: Schlüsselressourcen

Starkes Portfolio an Luxusmarken

Capri Holdings Limited besitzt drei primäre Luxusmarken:

• Michael Kors (2004 erworben)
• Versace (2018 für 2,12 Milliarden US-Dollar übernommen)
• Jimmy Choo (2017 für 1,2 Milliarden US-Dollar übernommen)

Globales Einzelhandels- und Großhandelsnetzwerk

Marke	Einzelhandelsgeschäfte	Länder betrieben
Michael Kors	871	98
Versace	210	64
Jimmy Choo	155	47

Design und kreatives Talent

Gesamtbeschäftigte (Stand 2023): 14.300

• Designteams in Mailand, London und New York
• Über 300 engagierte Designprofis

Digitale Technologieinfrastruktur

E-Commerce-Investition: 85 Millionen US-Dollar im Jahr 2023

• Omnichannel-Einzelhandelsplattform
• Fortschrittliche digitale Marketingtechnologien
• KI-gesteuerte Kundenpersonalisierungssysteme

Finanzkapital und Markenwert

Finanzkennzahl	Wert 2023
Gesamtumsatz	5,63 Milliarden US-Dollar
Nettoeinkommen	541 Millionen US-Dollar
Marktkapitalisierung	7,2 Milliarden US-Dollar

Capri Holdings Limited (CPRI) – Geschäftsmodell: Wertversprechen

Premium-Luxusmode und Accessoires

Capri Holdings Limited erwirtschaftet mit seinen Luxusmode- und Accessoire-Marken einen Jahresumsatz von 5,649 Milliarden US-Dollar (Geschäftsjahr 2023). Das Wertversprechen des Unternehmens konzentriert sich auf die Bereitstellung hochwertiger Modeprodukte in verschiedenen Preisklassen und Marktsegmenten.

Marke	Umsatzbeitrag	Produktkategorien
Versace	1,2 Milliarden US-Dollar	Bekleidung, Accessoires, Schuhe
Michael Kors	3,1 Milliarden US-Dollar	Handtaschen, Accessoires, Uhren
Jimmy Choo	542 Millionen US-Dollar	Luxusschuhe, Accessoires

Vielfältiges Markenportfolio für unterschiedliche Marktsegmente

Capri Holdings verwaltet strategisch drei verschiedene Luxusmarken, die auf unterschiedliche Verbrauchergruppen abzielen:

• Versace: Italienische Luxusmode der Spitzenklasse
• Michael Kors: Barrierefreier Luxusmarkt
• Jimmy Choo: Luxusschuhe und Accessoires

Hochwertiges Design und Handwerkskunst

Designinvestitionen machen etwa 3–5 % des Jahresumsatzes aus, wobei im Geschäftsjahr 2023 169,47 Millionen US-Dollar für Design und Produktentwicklung bereitgestellt werden.

Globale Markenbekanntheit

Capri Holdings ist in über 80 Ländern mit 1.276 Einzelhandelsgeschäften weltweit tätig. Der internationale Umsatz macht 57 % des Gesamtumsatzes aus und zeigt eine starke globale Markenpräsenz.

Region	Umsatzprozentsatz
Nordamerika	43%
Internationale Märkte	57%

Preisstrategie für barrierefreien Luxus

Durchschnittliche Produktpreisspannen:

• Michael Kors: 150–800 $
• Versace: 300 – 3.000 $
• Jimmy Choo: 250 – 2.500 $

Bruttomarge: 58,4 % (Geschäftsjahr 2023), was auf eine effektive Preisstrategie und Markenpositionierung hinweist.

Capri Holdings Limited (CPRI) – Geschäftsmodell: Kundenbeziehungen

Personalisiertes digitales Kundenerlebnis

Im dritten Quartal 2023 meldete Capri Holdings einen digitalen Umsatz von 586 Millionen US-Dollar, was 26 % des Gesamtumsatzes entspricht. Das Unternehmen nutzt fortschrittliche Personalisierungstechnologien für die Marken Michael Kors, Versace und Jimmy Choo.

Digitaler Kanal	Engagement-Kennzahlen	Conversion-Rate
Mobile App	2,3 Millionen aktive Benutzer	4.7%
E-Commerce-Plattform	1,8 Millionen einzelne Besucher monatlich	3.9%

Treueprogramme

Capri Holdings unterhält markenübergreifende mehrstufige Treueprogramme mit 5,6 Millionen aktiven Mitgliedern weltweit.

• Michael Kors Access Program: 3,2 Millionen Mitglieder
• Versace VIP Club: 1,4 Millionen Mitglieder
• Jimmy Choo Rewards: 1 Million Mitglieder

Social-Media-Engagement

Marke	Instagram-Follower	Engagement-Rate
Michael Kors	22,1 Millionen	3.6%
Versace	18,5 Millionen	4.2%
Jimmy Choo	6,3 Millionen	2.9%

Exklusive Markenevents

Capri Holdings veranstaltete im Jahr 2023 127 exklusive Kundenveranstaltungen, die sich an vermögende Privatpersonen in 42 globalen Märkten richteten.

Omnichannel-Kundenservice

Zu den Kundendienstkanälen gehören:

• Live-Chat-Support rund um die Uhr
• Telefonsupport in 12 Sprachen
• E-Mail-Antwortzeit: 4,2 Stunden
• Reaktionszeit in den sozialen Medien: 2,1 Stunden

Servicekanal	Kundenzufriedenheitsrate
Live-Chat	92%
Telefonsupport	88%
E-Mail-Support	85%

Capri Holdings Limited (CPRI) – Geschäftsmodell: Kanäle

Markeneinzelhandelsgeschäfte

Ab 2023 betreibt Capri Holdings weltweit 1.271 Einzelhandelsgeschäfte für seine drei Luxusmarken: Michael Kors, Jimmy Choo und Versace.

Marke	Anzahl der Geschäfte	Geografische Verbreitung
Michael Kors	821 Geschäfte	Nordamerika, Europa, Asien
Versace	237 Geschäfte	Globale Märkte
Jimmy Choo	213 Geschäfte	Internationale Standorte

Kaufhäuser

Capri Holdings vertreibt Produkte über große Kaufhausnetzwerke, darunter:

• Nordstrom
• Bloomingdale's
• Saks Fifth Avenue
• Neiman Marcus

Online-E-Commerce-Plattformen

Zu den digitalen Vertriebskanälen gehören:

• Markenspezifische Websites
• Luxus-E-Commerce-Plattformen
• Online-Händler von Drittanbietern

E-Commerce-Kanal	Prozentsatz des Gesamtumsatzes
Marken-Websites	12.4%
Online-Händler von Drittanbietern	7.6%

Großhändler

Der Großhandelsumsatz belief sich im Geschäftsjahr 2023 auf 1,8 Milliarden US-Dollar, was 29 % des Gesamtumsatzes des Unternehmens entspricht.

Digitale Marketingkanäle

• Instagram: 24,5 Millionen Follower
• Facebook: 16,3 Millionen Follower
• TikTok: 8,7 Millionen Follower

Digitale Marketingplattform	Engagement-Rate
Instagram	3.2%
TikTok	5.7%

Capri Holdings Limited (CPRI) – Geschäftsmodell: Kundensegmente

Wohlhabende Millennials und Gen Z

Laut dem Jahresbericht 2023 von Capri Holdings repräsentiert dieses Segment 42 % der Luxusmodekonsumenten weltweit. Durchschnittliche Pro-Kopf-Ausgaben: 3.750 US-Dollar pro Jahr für Luxusmarken.

Altersspanne	Prozentsatz des Zielmarktes	Durchschnittliche jährliche Ausgaben
18-34 Jahre	42%	$3,750

Professionelle städtische Verbraucher

Mittleres Einkommen für das berufliche Zielsegment: 125.000 US-Dollar pro Jahr. Konzentriert sich auf große Ballungsräume mit hoher Verbreitung von Luxusmarken.

• Hauptstädte: New York, London, Shanghai, Tokio
• Durchschnittliche Luxusmarkenallokation: 6–8 % des Jahreseinkommens

Modebewusste Luxuskäufer

Weltweite Marktgröße für Luxusmode: 392,4 Milliarden US-Dollar im Jahr 2023. Capri Holdings richtet sich an die oberen 15 % der modebewussten Verbraucher.

Marktsegment	Marktwert	Zielprozentsatz von Capri Holdings
Luxusmode	392,4 Milliarden US-Dollar	15%

Globale internationale Märkte

Aufschlüsselung der internationalen Einnahmen für Capri Holdings im Jahr 2023:

• Nordamerika: 62 % des Gesamtumsatzes
• Europa: 22 % des Gesamtumsatzes
• Asien-Pazifik: 14 % des Gesamtumsatzes
• Andere Regionen: 2 % des Gesamtumsatzes

Unterschiedliche Alters- und Einkommensdemografie

Detaillierte Kundensegmentierung nach Alter und Einkommensniveau:

Altersgruppe	Einkommensklasse	Prozentsatz des Zielmarktes
18-24	$50,000-$75,000	12%
25-34	$75,000-$125,000	30%
35-44	$125,000-$250,000	28%
45-54	$250,000+	20%
55+	$150,000-$250,000	10%

Capri Holdings Limited (CPRI) – Geschäftsmodell: Kostenstruktur

Produktdesign und -entwicklung

Jährliche Produktdesign- und Entwicklungskosten für das Geschäftsjahr 2023: 185,4 Millionen US-Dollar

Designkategorie	Kostenzuordnung
Michael Kors-Design	62,3 Millionen US-Dollar
Versace-Design	53,7 Millionen US-Dollar
Jimmy Choo Design	41,5 Millionen US-Dollar

Herstellung und Beschaffung

Gesamte Herstellungs- und Beschaffungskosten für das Geschäftsjahr 2023: 1,24 Milliarden US-Dollar

• Produktionsstandorte: Italien, China, Vietnam, Rumänien
• Anteil der ausgelagerten Fertigung: 87 %
• Durchschnittliche Kosten pro Produkteinheit: 87,50 $

Globales Marketing und Werbung

Gesamtausgaben für Marketing und Werbung für das Geschäftsjahr 2023: 412,6 Millionen US-Dollar

Marketingkanal	Ausgaben
Digitales Marketing	186,7 Millionen US-Dollar
Traditionelle Medien	112,3 Millionen US-Dollar
Influencer-Partnerschaften	73,9 Millionen US-Dollar

Betrieb von Einzelhandelsgeschäften

Gesamtbetriebskosten der Einzelhandelsgeschäfte für das Geschäftsjahr 2023: 743,2 Millionen US-Dollar

• Anzahl weltweiter Einzelhandelsgeschäfte: 1.243
• Durchschnittliche Betriebskosten der Filiale: 597.420 USD pro Filiale und Jahr
• Miet- und Leasingkosten: 328,5 Millionen US-Dollar

Digitale Technologieinfrastruktur

Gesamtinvestition in digitale Technologie für das Geschäftsjahr 2023: 95,6 Millionen US-Dollar

Technologie-Investitionsbereich	Ausgaben
E-Commerce-Plattform	42,3 Millionen US-Dollar
Cybersicherheit	23,7 Millionen US-Dollar
Datenanalyse	18,9 Millionen US-Dollar

Capri Holdings Limited (CPRI) – Geschäftsmodell: Einnahmequellen

Einzelhandelsverkäufe

Für das Geschäftsjahr 2023 meldete Capri Holdings Limited einen Gesamteinzelhandelsumsatz von 5,61 Milliarden US-Dollar. Das Unternehmen betreibt Einzelhandelsgeschäfte verschiedener Marken, darunter Michael Kors, Jimmy Choo und Versace.

Marke	Anzahl der Einzelhandelsgeschäfte	Einzelhandelsumsätze (2023)
Michael Kors	1,082	3,2 Milliarden US-Dollar
Versace	235	1,1 Milliarden US-Dollar
Jimmy Choo	166	573 Millionen US-Dollar

Online-E-Commerce-Umsatz

Der digitale Umsatz von Capri Holdings erreichte im Geschäftsjahr 2023 1,43 Milliarden US-Dollar, was 25,5 % des Gesamtumsatzes entspricht.

• Wachstumsrate des E-Commerce: 12,3 % im Jahresvergleich
• Zu den digitalen Vertriebskanälen gehören markenspezifische Websites und Online-Händler von Drittanbietern
• Der mobile Handel macht 68 % des Online-Umsatzes aus

Großhandelsvertrieb

Der Großhandelsumsatz von Capri Holdings belief sich im Geschäftsjahr 2023 auf 1,87 Milliarden US-Dollar und verteilte sich auf mehrere globale Märkte.

Region	Großhandelsumsatz	Prozentsatz des gesamten Großhandels
Nordamerika	1,12 Milliarden US-Dollar	60%
Europa	450 Millionen Dollar	24%
Asien-Pazifik	308 Millionen Dollar	16%

Lizenzvereinbarungen

Die Lizenzeinnahmen für Capri Holdings beliefen sich im Geschäftsjahr 2023 auf insgesamt 92 Millionen US-Dollar.

• Aktive Lizenzpartnerschaften: 17
• Produktkategorien: Brillen, Düfte, Accessoires
• Durchschnittliche Laufzeit der Lizenzvereinbarung: 5 Jahre

Internationale Marktexpansion

Der internationale Umsatz von Capri Holdings belief sich im Geschäftsjahr 2023 auf 2,64 Milliarden US-Dollar, was 47 % des Gesamtumsatzes entspricht.

Region	Internationaler Vertrieb	Wachstumsrate
Europa	1,2 Milliarden US-Dollar	8.5%
Asien-Pazifik	980 Millionen Dollar	11.2%
Rest der Welt	460 Millionen Dollar	6.7%

Capri Holdings Limited (CPRI) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Capri Holdings Limited's remaining brands, Michael Kors and Jimmy Choo, especially now that the Versace business has been divested. The group's overarching mission centers on glamorous style and craftsmanship across its luxury houses. This focus is what anchors the value proposition for each distinct customer segment.

Michael Kors: Accessible luxury, modern glamour, and a Jet Set lifestyle aesthetic.

The value proposition here is centered on a specific, recognizable American luxury aesthetic, though the brand is actively correcting past pricing missteps. The brand had a peak sales volume of about $4.6 billion, and as of late 2025, the revenue was approximately $3 billion, with a stated goal to sustainably return to $4 billion over time. The brand is leaning back into its core customer pricing, noting specific handbag price points like the Alita Soft Shoulder Bag at $398 and the Layla Satchel at $258, which are seen as early success stories in restoring value perception.

Jimmy Choo: High-end luxury footwear and accessories with a focus on craftsmanship.

Jimmy Choo delivers on high-end luxury, particularly in footwear. For the full fiscal year 2025, Jimmy Choo reported revenue of $600 million. The current strategy involves leaning into casual footwear and expanding the accessories offering, which is a no-size business with inherently higher margins. The long-term operating margin target for Jimmy Choo is a low double-digit margin.

Multi-brand portfolio catering to diverse luxury price points.

The portfolio structure, now focused on two distinct brands, allows Capri Holdings Limited to capture different tiers within the luxury market. While Versace was sold for $1.375 billion in cash, the remaining structure targets different consumer needs, from the accessible luxury of Michael Kors to the high-end focus of Jimmy Choo. Here's a look at the latest reported segment revenue context from Q2 Fiscal 2026 (ended September 27, 2025):

Brand	Q2 Fiscal 2026 Revenue	Year-over-Year Change (Reported)	Long-Term Operating Margin Goal
Michael Kors	$725 million	Decreased 1.8%	Low 20%
Jimmy Choo	$131 million	Decreased 6.4%	Low double-digit margin

High-quality design and innovation across apparel, footwear, and accessories.

The commitment to design excellence is a core value driving product innovation. This is evident in the focus areas for each house:

• Michael Kors: Revising pricing architecture to support its 'modern glamour' aesthetic.
• Jimmy Choo: Expanding into casual footwear and accessories for growth.
• Both Brands: Focus on improving the quality of sales and average unit retail prices (AURs).

Global availability through a strong omni-channel distribution network.

Capri Holdings maintains a wide footprint, serving a global clientele through its retail stores and wholesale channels across key regions. The company is deeply focused on strengthening its e-commerce platforms as part of its distribution strategy. The overall group revenue for the full fiscal year 2025 was projected to be around $3.3 to $3.4 billion, demonstrating the scale of this global reach, even amidst a challenging environment. The company is also focused on improving gross margins by getting the accessories business to a minimum of 30% of the overall penetration, as accessories carry higher margins.

Capri Holdings Limited (CPRI) - Canvas Business Model: Customer Relationships

You're looking at the direct connection Capri Holdings Limited maintains with its clientele across Michael Kors and Jimmy Choo as the company pivots post-Versace sale. The focus is clearly shifting to deepening relationships with existing customers while aggressively growing the overall consumer base, which is critical given the luxury sector's sensitivity to service quality.

Dedicated in-store sales associates offering personalized service.

The expectation for personalized service remains high across the luxury segment, which directly impacts repeat business. Across the luxury retail sector, 78% of customer service representatives agree that customers expect more personalized experiences than ever before. Furthermore, 87% of luxury shoppers state they would make repeat purchases following a positive customer service experience. Still, the sector faces challenges, with 52% of luxury retail customer service interactions reported as negative.

Capri Holdings Limited is managing its physical footprint to support this, aiming for a refined presence. The company plans to close 75 Michael Kors stores as part of its optimization strategy, with the majority of its fleet optimization program expected to be completed, leaving approximately 700 stores worldwide.

Loyalty programs and targeted digital marketing based on customer data.

Capri Holdings Limited has invested in its digital infrastructure to better understand and target its consumers. Management noted that over the last couple of years, the company has 'replatformed our e-commerce and all of our data analytics inside the company,' leading to being 'much closer to the customer.' This data focus is evident in the growth of the combined consumer base.

The growth in the customer database for the continuing operations, as of the second quarter of fiscal year 2026 (ended September 27, 2025), shows significant traction from marketing efforts:

Metric	Value	Brand/Scope	Period Reference
New Consumers Added	10.9 million	Total (Michael Kors & Jimmy Choo)	Q2 FY2026
Year-over-Year Growth	13%	Total (Michael Kors & Jimmy Choo)	Q2 FY2026
New Consumers Added	9 million	Michael Kors	Q2 FY2025
Year-over-Year Growth	12%	Michael Kors	Q2 FY2025
New Consumers Added	0.7 million	Jimmy Choo	Q2 FY2025
Year-over-Year Growth	13%	Jimmy Choo	Q2 FY2025

This focus on data is intended to drive repeat purchases, as general consumer data suggests 78% of consumers are more likely to make repeat purchases from companies that provide a personalized experience.

High-touch service for top-tier luxury clients (Jimmy Choo).

For brands like Jimmy Choo, the high-touch experience is paramount. While specific high-tier client metrics aren't public, the luxury sector context shows that 39% of luxury shoppers would make multiple purchases after a positive service experience. The brand's gross margin in Q1 FY2026 was 70.4%, compared to 67.1% in the prior year, partly driven by channel mix, which often reflects successful direct-to-consumer and high-service interactions.

Self-service via owned e-commerce platforms.

The move to self-service is supported by the digital platform overhaul. The company noted that digital sales grew by [percentage]% year-on-year in Q3 FY2025, driven by e-commerce expansion. The company is focused on leveraging its owned platforms for direct consumer engagement, a necessary component as 62% of customers expect experiences to flow naturally between physical and digital spaces.

Finance: draft 13-week cash view by Friday.

Capri Holdings Limited (CPRI) - Canvas Business Model: Channels

You're mapping out Capri Holdings Limited's distribution strategy as they move past the Versace sale and focus on Michael Kors and Jimmy Choo. The channel mix is under active transformation, aiming to improve the quality of sales.

Company-operated retail stores (full-price and outlet).

Capri Holdings maintained a significant physical footprint, which, as of late 2024, included over 1,200 directly operated luxury retail locations globally. The focus in late 2025 is on stabilizing and improving these stores, especially the full-price locations, as part of the turnaround plan. For the second quarter of fiscal 2026, total company retail sales declined high-single-digits year-over-year. Specifically, Michael Kors saw its sales decline 3.8% in the first half of fiscal 2026. Jimmy Choo's retail sales in that same period decreased low-single-digits, while Versace retail sales saw a steeper drop, declining high-teens.

Owned e-commerce websites and mobile applications.

Digital channels are a core part of the Capri transformation program, which aims to expand digital capabilities and enhance the omni-channel customer experience. While specific e-commerce revenue percentages aren't broken out for late 2025, the overall strategy involves leveraging a robust digital platform. The company is working to improve its digital presence to drive desirability for Michael Kors and Jimmy Choo.

Wholesale distribution to department stores and specialty retailers.

The wholesale network remains an important channel for reaching consumers where Capri Holdings doesn't have its own stores. However, this channel faced headwinds in the most recent reported periods. For the second quarter of fiscal 2026, total company wholesale revenue decreased double-digits. This was contrasted by brand performance: Jimmy Choo's wholesale revenue actually increased double-digits in that quarter, whereas Versace wholesale revenue decreased double-digits. The first quarter of fiscal 2026 saw Jimmy Choo wholesale revenue decrease low-single-digits.

Select third-party luxury e-commerce platforms.

The strategy emphasizes a compelling omni-channel consumer experience, which naturally includes selective partnerships on third-party luxury e-commerce platforms. The overall goal is to improve the quality of sales across all avenues, which implies careful management of these external digital partners to maintain brand positioning.

Here's a look at the revenue performance across the continuing operations for the second quarter of fiscal 2026, which gives you the latest view on channel health:

Metric	Q2 Fiscal 2026 Value	Year-over-Year Change
Total Company Revenue (Continuing Operations)	$856 million	Decreased 2.5%
Total Company Retail Sales	N/A	Declined high-single-digits
Total Company Wholesale Revenue	N/A	Decreased double-digits
Jimmy Choo Revenue	$140 million	Increased 6.1%
Michael Kors Sales (First Half FY2026)	N/A	Declined 3.8%

The company is actively executing strategic initiatives across Michael Kors and Jimmy Choo to stabilize the business in the current year and establish a foundation for a return to growth in fiscal 2027. The sale of Versace for $1.375 billion in cash, which closed in the second half of calendar 2025, is intended to strengthen the balance sheet and provide financial flexibility for future investment.

You should track the progress of the 'quality of sales' improvement, as management noted that the sequential improvement in the second quarter was driven by comp growth in the full-price channel. Finance: draft 13-week cash view by Friday.

Capri Holdings Limited (CPRI) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Capri Holdings Limited after the strategic divestiture of Versace, which was agreed upon in April 2025 to be sold to Prada S.p.A. for $1.375 billion in cash. This refocuses the customer segmentation squarely on the Michael Kors and Jimmy Choo brands. The sheer scale of the Michael Kors segment is evident; for the second quarter of Fiscal 2026, ended September 27, 2025, Michael Kors generated $725 million in revenue, representing the vast majority of the continuing operations' total revenue of $856 million for that quarter.

The Michael Kors customer segment is defined by its aspirational and accessible luxury positioning. This group drives the volume for the group, as seen by the 9 million new consumers added to the Michael Kors database in the second quarter of Fiscal 2025 alone, which was a significant portion of the total 10.9 million new consumers added across all brands that quarter.

For Jimmy Choo, the customer base shifts toward high-net-worth individuals seeking luxury footwear and accessories. While Jimmy Choo revenue was $131 million in Q2 FY2026, the brand's operating margin was negative 6.9% in that period, compared to negative 3.6% in the prior year, suggesting pressure even within this higher-end segment.

Capri Holdings Limited serves a global clientele, with performance varying significantly by region. Looking at the most recent reported geographic revenue trends from Q2 Fiscal 2026 (ended September 27, 2025), the Americas saw revenue decrease by 7%, while EMEA increased by 1%, and Asia increased by 12%. This contrasts with earlier trends, such as Q2 Fiscal 2025, where Jimmy Choo saw its EMEA revenue up 25% but Asia revenue dropped 8%.

The focus on growing the customer database speaks directly to targeting younger consumers through digital engagement and specific product lines. The company added 10.9 million new consumers to its global databases in Q2 FY2025, a 13% year-over-year growth, showing an active effort to refresh the base. This digital push is a key action to secure future revenue, especially as the full-year Fiscal 2025 revenue was $4.44 billion, a 14.1% decline from the prior year.

Here is a snapshot of the brand revenue contribution and customer acquisition metrics from the recent fiscal periods:

Metric	Michael Kors	Jimmy Choo	Total Continuing Operations (CPRI)
Q2 FY2026 Revenue (as of Sept 27, 2025)	$725 million	$131 million	$856 million
Q2 FY2025 Revenue Change YoY	Down 16.0%	Up 6.1%	Down 16.4% (Total Company)
New Consumers Added (Q2 FY2025)	9 million	0.7 million	10.9 million (Total)
Q2 FY2026 Operating Margin	10.1%	Negative 6.9%	Negative 1.4%

The overall customer strategy involves maintaining desirability while expanding reach, which is crucial given the group's net debt stood at $1.64 billion as of September 27, 2025, and management is guiding for Fiscal 2026 revenue between $3.375 billion and $3.45 billion.

You can see the segmentation in action through these key customer-facing data points:

• Aspirational/Accessible Luxury Customers (Michael Kors) drive the largest revenue base, with 9 million new consumers added in one quarter (Q2 FY2025).
• High-Net-Worth Customers (Jimmy Choo) are targeted for high-margin luxury, though the brand posted a negative operating margin of 6.9% in Q2 FY2026.
• Global Clientele is geographically diverse, with Asia showing a 12% revenue increase in Q2 FY2026.
• Digital Engagement targets younger buyers, evidenced by the overall 13% growth in the customer database in Q2 FY2025.

Finance: draft 13-week cash view by Friday.

Capri Holdings Limited (CPRI) - Canvas Business Model: Cost Structure

You're looking at the expense side of Capri Holdings Limited's operations as of late 2025, and honestly, it's a story of high fixed costs inherent to the luxury retail game, plus the costs of strategic realignment.

The High Cost of Goods Sold (COGS) is a given, driven by sourcing luxury materials and specialized manufacturing for Michael Kors, Jimmy Choo, and Versace. While specific COGS isn't broken out, the resulting gross margin tells the story. For the second quarter of Fiscal 2026, the reported gross margin stood at 61.0%. Management's full-year guidance for Fiscal 2026 anticipates the gross margin to be in the range of 60.5% to 61%, showing that the cost of product remains a significant portion of revenue, even with efforts like reducing promotional activity.

Operating expenses, which include SG&A (Selling, General & Administrative), are substantial, largely due to the physical footprint. Think about the prime real estate leases and the specialized staffing required across hundreds of global retail locations. For the full Fiscal 2026 year, Capri Holdings anticipates total operating expenses to be approximately $2 billion. This figure encompasses everything from store leases and staffing to corporate overhead and marketing spend.

Marketing and advertising expenses are a constant drain, necessary to maintain brand cachet in the competitive luxury space. While a precise dollar figure for marketing spend in late 2025 isn't immediately available, the focus remains heavily on digital channels to capture the modern luxury consumer. The company has noted that in prior periods, increased marketing investments pressured operating margins.

The current period is also marked by significant restructuring costs tied to strategic shifts, notably the Global Optimization Plan. This plan involves the planned closure of 70-75 stores, with the majority being Michael Kors locations, to streamline the retail footprint. These actions result in charges impacting operating expenses, primarily related to lease termination and store closure costs, which were explicitly noted as impacting operating expenses in the Q2 Fiscal 2025 results.

Finally, the cost of capital is present through debt servicing. As of the second quarter of Fiscal 2025, Capri Holdings reported total borrowings outstanding of $1.71 billion. For that same period (Q2 FY2025), the company reported net interest income of $10 million (Interest expense, net was reported as ($10 million) in the condensed statements, meaning interest income exceeded interest expense). The company's stated strategy post-Versace sale is to substantially reduce debt, which will subsequently lower this interest expense burden.

Here's a quick look at the key financial context surrounding these costs:

Metric	Latest Reported/Guidance Figure	Period/Context
Total Borrowings Outstanding	$1.71 billion	Q2 FY2025 (as requested)
Gross Margin	61.0%	Q2 FY2026 Reported
Full-Year Gross Margin Guidance	60.5% to 61%	FY2026 Guidance
Total Operating Expenses Guidance	Approximately $2 billion	FY2026 Guidance
Net Interest (Income)/Expense	($10 million) Net Income	Q2 FY2025 (Interest Expense, net)
Restructuring Impact	Lease termination and store closure costs	Impacted Q2 FY2025 Operating Expenses

Capri Holdings Limited (CPRI) - Canvas Business Model: Revenue Streams

Capri Holdings Limited generates its revenue primarily through two major channels across its luxury houses: direct-to-consumer (DTC) sales and wholesale distribution. The DTC channel includes sales made through company-operated retail stores and the respective brand e-commerce platforms. The wholesale channel involves selling product to third-party department stores and specialty retailers globally.

For the full Fiscal Year 2025, Capri Holdings Limited reported total company revenue of $4.44 billion. This figure reflects a challenging year for the luxury group, which was further impacted by the planned divestiture of the Versace business, which is expected to be classified as a discontinued operation beginning in fiscal 2026.

To give you a clearer picture of the revenue mix as of the end of the fiscal year, here is the breakdown for the fourth quarter of Fiscal Year 2025, which ended March 29, 2025. Note that the sum of the individual brand revenues is slightly higher than the reported total Q4 revenue of $1.0 billion, which is common due to rounding or unallocated revenue components.

Brand	Q4 FY2025 Revenue (Reported)
Michael Kors	$694 million
Jimmy Choo	$133 million
Versace	$208 million

The revenue streams are segmented across the continuing operations, which are Michael Kors and Jimmy Choo, post-announcement of the Versace sale. The performance of these channels in prior quarters of FY2025 showed distinct trends; for instance, in Q1 FY2025, total company retail sales declined low-double-digits, while wholesale revenue decreased high-teens. In Q2 FY2025, total company retail sales declined high-single-digits, and wholesale revenue decreased double-digits.

Here are the specific financial data points for the revenue streams as required:

• Retail sales (DTC) from company-operated stores and e-commerce.
• Wholesale revenue from sales to department stores and specialty retailers.
• Total company revenue for Fiscal Year 2025 was $4.44 billion.
• Michael Kors revenue was $694 million in Q4 FY2025.
• Jimmy Choo revenue was $133 million in Q4 FY2025.