Capri Holdings Limited (CPRI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el modelo estratégico de Capri Holdings Limited (CPRI), una potencia en el panorama de la moda de lujo que orquesta magistralmente tres marcas icónicas: Michael Kors, Versace y Jimmy Choo. Este lienzo de modelo de negocio revela cómo CPRI transforma la visión creativa en un imperio de lujo global, combinando perfectamente el diseño innovador, las asociaciones estratégicas y las estrategias digitales de vanguardia para capturar los corazones de los consumidores de moda en diversos segmentos de mercado. Descubra los intrincados mecanismos que impulsan el notable éxito de este conglomerado de moda y la penetración del mercado global.

Capri Holdings Limited (CPRI) - Modelo de negocio: asociaciones clave

Diseñadores de moda de lujo y marcas

Capri Holdings colabora con los siguientes diseñadores y marcas de lujo:

Marca	Detalles de la asociación	Año adquirido/establecido
Versza	Subsidiaria totalmente de propiedad	2018
Jimmy Choo	Subsidiaria totalmente de propiedad	2017
Michael Kors	Marca central	Fundado

Proveedores de fabricación global

Capri Holdings trabaja con socios de fabricación en múltiples regiones:

Región	Número de proveedores	Ubicación de fabricación
Asia	87	China, Vietnam, Indonesia
Europa	23	Italia, Portugal
América del norte	12	Estados Unidos

Socios de distribución minorista

Los canales de distribución minorista clave incluyen:

• Almacenes departamentos (Nordstrom, Macy's)
• Minoristas de lujo (Bloomingdale's, Saks Fifth Avenue)
• Grandes almacenes internacionales

Plataformas de tecnología de comercio electrónico

Plataformas de asociación digital:

• Fared
• Amazonas
• Net-a-porta
• Plataformas de comercio electrónico propiedad de la empresa

Agencias de marketing y publicidad

Estadísticas de colaboración de publicidad y marketing:

Tipo de agencia	Número de socios	Gasto de marketing anual
Agencias de publicidad global	7	$ 412 millones (2023)
Agencias de marketing digital	12	$ 186 millones (2023)

Capri Holdings Limited (CPRI) - Modelo de negocio: actividades clave

Diseño de moda de lujo y desarrollo de productos

Capri Holdings Limited diseña y desarrolla colecciones de moda de lujo para tres marcas principales:

• Versace: 159 nuevos estilos lanzados en la colección Otoño/Invierno 2023
• Michael Kors: 214 diseños de nuevos productos en la gama de primavera 2024
• Jimmy Choo: 87 Nuevos diseños de calzado de lujo para la temporada 2024

Marca	Tamaño del equipo de diseño	Inversión de diseño anual
Versza	52 diseñadores	$ 42.3 millones
Michael Kors	78 diseñadores	$ 63.7 millones
Jimmy Choo	34 diseñadores	$ 22.5 millones

Gestión de marca global

Capri Holdings administra la presencia global de la marca en múltiples mercados:

• Ubicaciones minoristas globales totales: 1,243 tiendas
• Operativo en 67 países
• Presupuesto de marketing de marca: $ 287.6 millones en 2023

Distribución minorista y mayorista

Canal de distribución	Número de puntos de venta	Contribución de ingresos
Tiendas minoristas	756	$ 2.1 mil millones
Canales al por mayor	487	$ 1.3 mil millones

Operaciones de marketing digital y comercio electrónico

Métricas de compromiso digital:

• Ingresos de comercio electrónico: $ 612.4 millones en 2023
• Seguidores de las redes sociales: 45.3 millones
• Gasto de marketing digital: $ 104.2 millones

Gestión de la cadena de suministro y el inventario

Métrico	Valor
Valor de inventario total	$ 879.6 millones
Número de socios manufactureros	124
Relación de rotación de inventario	2.7x

Capri Holdings Limited (CPRI) - Modelo de negocio: recursos clave

Fuerte cartera de marcas de lujo

Capri Holdings Limited posee tres marcas de lujo principales:

• Michael Kors (adquirido en 2004)
• Versace (adquirido en 2018 por $ 2.12 mil millones)
• Jimmy Choo (adquirido en 2017 por $ 1.2 mil millones)

Red minorista y mayorista global

Marca	Tiendas minoristas	Países operados
Michael Kors	871	98
Versza	210	64
Jimmy Choo	155	47

Diseño y talento creativo

Total de empleados (a partir de 2023): 14,300

• Equipos de diseño en Milán, Londres, Nueva York
• Más de 300 profesionales de diseño dedicados

Infraestructura de tecnología digital

Inversión de comercio electrónico: $ 85 millones en 2023

• Plataforma minorista omnicanal
• Tecnologías avanzadas de marketing digital
• Sistemas de personalización del cliente impulsados ​​por la IA

Capital financiero y capital de marca

Métrica financiera	Valor 2023
Ingresos totales	$ 5.63 mil millones
Lngresos netos	$ 541 millones
Capitalización de mercado	$ 7.2 mil millones

Capri Holdings Limited (CPRI) - Modelo de negocio: propuestas de valor

Moda y accesorios de lujo premium

Capri Holdings Limited genera $ 5.649 mil millones en ingresos anuales (año fiscal 2023) a través de sus marcas de moda y accesorios de lujo. La propuesta de valor de la compañía se centra en ofrecer productos de moda de alta gama en múltiples puntos de precio y segmentos de mercado.

Marca	Contribución de ingresos	Categorías de productos
Versza	$ 1.2 mil millones	Ropa, accesorios, calzado
Michael Kors	$ 3.1 mil millones	Bolsos, accesorios, relojes
Jimmy Choo	$ 542 millones	Calzado de lujo, accesorios

Diversas carteras de marca que atienden a diferentes segmentos de mercado

Capri Holdings administra estratégicamente tres marcas de lujo distintas dirigidas a diferentes datos demográficos de los consumidores:

• Versace: moda de lujo italiano de alta gama
• Michael Kors: mercado de lujo accesible
• Jimmy Choo: calzado y accesorios de lujo

Diseño y artesanía de alta calidad

La inversión de diseño representa aproximadamente el 3-5% de los ingresos anuales, con $ 169.47 millones asignados al diseño y el desarrollo de productos en el año fiscal 2023.

Reconocimiento de marca global

Capri Holdings opera en más de 80 países con 1,276 tiendas minoristas a nivel mundial. Las ventas internacionales representan el 57% de los ingresos totales, lo que demuestra una fuerte presencia de marca global.

Región	Porcentaje de ingresos
América del norte	43%
Mercados internacionales	57%

Estrategia de precios de lujo accesible

Rangos de precios promedio del producto:

• Michael Kors: $ 150 - $ 800
• Versace: $ 300 - $ 3,000
• Jimmy Choo: $ 250 - $ 2,500

Margen bruto: 58.4% (año fiscal 2023), que indica una estrategia de precios efectiva y posicionamiento de marca.

Capri Holdings Limited (CPRI) - Modelo de negocios: relaciones con los clientes

Experiencia digital personalizada del cliente

A partir del tercer trimestre de 2023, Capri Holdings reportó ventas digitales de $ 586 millones, lo que representa el 26% de los ingresos totales. La compañía utiliza tecnologías avanzadas de personalización en Michael Kors, Versace y Jimmy Choo Brands.

Canal digital	Métricas de compromiso	Tasa de conversión
Aplicación móvil	2.3 millones de usuarios activos	4.7%
Plataforma de comercio electrónico	1.8 millones de visitantes únicos mensualmente	3.9%

Programas de fidelización

Capri Holdings mantiene programas de lealtad de varios niveles en las marcas con 5.6 millones de miembros activos a nivel mundial.

• Programa de acceso de Michael Kors: 3.2 millones de miembros
• Versace VIP Club: 1.4 millones de miembros
• Jimmy Choo recompensas: 1 millón de miembros

Compromiso de las redes sociales

Marca	Seguidores de Instagram	Tasa de compromiso
Michael Kors	22.1 millones	3.6%
Versza	18.5 millones	4.2%
Jimmy Choo	6.3 millones	2.9%

Eventos de marca exclusivos

Capri Holdings organizó 127 eventos exclusivos para clientes en 2023, dirigidos a personas de alto patrimonio en los 42 mercados globales.

Servicio al cliente omnicanal

Los canales de servicio al cliente incluyen:

• Soporte de chat en vivo 24/7
• Soporte telefónico en 12 idiomas
• Tiempo de respuesta por correo electrónico: 4.2 horas
• Tiempo de respuesta de las redes sociales: 2.1 horas

Canal de servicio	Tasa de satisfacción del cliente
Chat en vivo	92%
Soporte telefónico	88%
Soporte por correo electrónico	85%

Capri Holdings Limited (CPRI) - Modelo de negocio: canales

Tiendas minoristas de marca

A partir de 2023, Capri Holdings opera 1,271 tiendas minoristas a nivel mundial en sus tres marcas de lujo: Michael Kors, Jimmy Choo y Versace.

Marca	Número de tiendas	Extensión geográfica
Michael Kors	821 tiendas	América del Norte, Europa, Asia
Versza	237 tiendas	Mercados globales
Jimmy Choo	213 tiendas	Ubicaciones internacionales

Grandes almacenes

Capri Holdings distribuye productos a través de las principales redes de grandes almacenes, incluyendo:

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

Plataformas de comercio electrónico en línea

Los canales de ventas digitales incluyen:

• Sitios web específicos de la marca
• Plataformas de comercio electrónico de lujo
• Minoristas en línea de terceros

Canal de comercio electrónico	Porcentaje de ventas totales
Sitios web de marca	12.4%
Minoristas en línea de terceros	7.6%

Distribuidores al por mayor

Los ingresos mayoristas para el año fiscal 2023 fueron de $ 1.8 mil millones, lo que representa el 29% de los ingresos totales de la compañía.

Canales de marketing digital

• Instagram: 24.5 millones de seguidores
• Facebook: 16.3 millones de seguidores
• Tiktok: 8.7 millones de seguidores

Plataforma de marketing digital	Tasa de compromiso
Instagram	3.2%
Tiktok	5.7%

Capri Holdings Limited (CPRI) - Modelo de negocio: segmentos de clientes

Millennials y la generación Z

Según el informe anual 2023 de Capri Holdings, este segmento representa el 42% de los consumidores de moda de lujo a nivel mundial. Gasto promedio per cápita: $ 3,750 anualmente en marcas de lujo.

Rango de edad	Porcentaje del mercado objetivo	Gasto anual promedio
18-34 años	42%	$3,750

Consumidores urbanos profesionales

Ingresos medios para el segmento profesional objetivo: $ 125,000 anuales. Concentrado en las principales áreas metropolitanas con alta penetración de marca de lujo.

• Ciudades primarias: Nueva York, Londres, Shanghai, Tokio
• Asignación promedio de marca de lujo: 6-8% de los ingresos anuales

Compradores de lujo conscientes de la moda

Tamaño del mercado global de moda de lujo: $ 392.4 mil millones en 2023. Capri Holdings se dirige a los mejores 15% de los consumidores conscientes de la moda.

Segmento de mercado	Valor comercial	Porcentaje objetivo de Capri Holdings
Moda de lujo	$ 392.4 mil millones	15%

Mercados internacionales globales

Desglose de ingresos internacionales para Capri Holdings en 2023:

• América del Norte: 62% de los ingresos totales
• Europa: 22% de los ingresos totales
• Asia Pacífico: 14% de los ingresos totales
• Otras regiones: 2% de los ingresos totales

Diferentes datos demográficos de edad e ingresos

Segmentación detallada del cliente por edad e niveles de ingresos:

Grupo de edad	Soporte de ingresos	Porcentaje del mercado objetivo
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) - Modelo de negocio: Estructura de costos

Diseño y desarrollo de productos

Gastos anuales de diseño y desarrollo del producto para el año fiscal 2023: $ 185.4 millones

Categoría de diseño	Asignación de gastos
Diseño de Michael Kors	$ 62.3 millones
Diseño de Versace	$ 53.7 millones
Diseño de Jimmy Choo	$ 41.5 millones

Fabricación y abastecimiento

Costos totales de fabricación y abastecimiento para el año fiscal 2023: $ 1.24 mil millones

• Ubicaciones de fabricación: Italia, China, Vietnam, Rumania
• Porcentaje de fabricación subcontratada: 87%
• Costo promedio por unidad de producto: $ 87.50

Marketing y publicidad global

Gastos totales de marketing y publicidad para el año fiscal 2023: $ 412.6 millones

Canal de marketing	Gasto
Marketing digital	$ 186.7 millones
Medios tradicionales	$ 112.3 millones
Asociaciones de influencia	$ 73.9 millones

Operaciones de tiendas minoristas

Gastos operativos totales de la tienda minorista para el año fiscal 2023: $ 743.2 millones

• Número de tiendas minoristas globales: 1,243
• Costo operativo promedio de la tienda: $ 597,420 por tienda anualmente
• Gastos de alquiler y arrendamiento: $ 328.5 millones

Infraestructura de tecnología digital

Inversión total de tecnología digital para el año fiscal 2023: $ 95.6 millones

Área de inversión tecnológica	Gasto
Plataforma de comercio electrónico	$ 42.3 millones
Ciberseguridad	$ 23.7 millones
Análisis de datos	$ 18.9 millones

Capri Holdings Limited (CPRI) - Modelo de negocio: flujos de ingresos

Ventas de tiendas minoristas

Para el año fiscal 2023, Capri Holdings Limited reportó ventas minoristas totales de $ 5.61 mil millones. La compañía opera tiendas minoristas en múltiples marcas, incluidos Michael Kors, Jimmy Choo y Versace.

Marca	Número de tiendas minoristas	Ventas minoristas (2023)
Michael Kors	1,082	$ 3.2 mil millones
Versza	235	$ 1.1 mil millones
Jimmy Choo	166	$ 573 millones

Ingresos de comercio electrónico en línea

Las ventas digitales para Capri Holdings en el año fiscal 2023 alcanzaron los $ 1.43 mil millones, lo que representa el 25.5% de los ingresos totales.

• Tasa de crecimiento del comercio electrónico: 12.3% año tras año
• Los canales de ventas digitales incluyen sitios web específicos de marca y minoristas en línea de terceros
• El comercio móvil representa el 68% de las ventas en línea

Distribución al por mayor

Los ingresos mayoristas para Capri Holdings en el año fiscal 2023 fueron de $ 1.87 mil millones, distribuidos en múltiples mercados globales.

Región	Ingresos al por mayor	Porcentaje de total al por mayor
América del norte	$ 1.12 mil millones	60%
Europa	$ 450 millones	24%
Asia Pacífico	$ 308 millones	16%

Acuerdos de licencia

Los ingresos por licencias para Capri Holdings en el año fiscal 2023 totalizaron $ 92 millones.

• Asociaciones de licencias activas: 17
• Categorías de productos: gafas, fragancias, accesorios
• Duración promedio del acuerdo de licencia: 5 años

Expansión del mercado internacional

Las ventas internacionales para Capri Holdings en el año fiscal 2023 ascendieron a $ 2.64 mil millones, lo que representa el 47% de los ingresos totales.

Región	Ventas internacionales	Índice de crecimiento
Europa	$ 1.2 mil millones	8.5%
Asia Pacífico	$ 980 millones	11.2%
Resto del mundo	$ 460 millones	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.