Capri Holdings Limited (CPRI): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no plano estratégico da Capri Holdings Limited (CPRI), uma potência na paisagem de moda de luxo que orquestra magistralmente três marcas icônicas - Michael Kors, Versace e Jimmy Choo. Esse modelo de negócios Canvas revela como a CPRI transforma a visão criativa em um império global de luxo, misturando perfeitamente design inovador, parcerias estratégicas e estratégias digitais de ponta para capturar os corações dos consumidores de moda em diversos segmentos de mercado. Descubra os intrincados mecanismos que impulsionam o notável sucesso e a penetração do mercado global desse conglomerado de moda.

Capri Holdings Limited (CPRI) - Modelo de negócios: Parcerias -chave

Designers de moda de luxo e marcas

Capri Holdings colabora com os seguintes designers e marcas de luxo:

Marca	Detalhes da parceria	Ano adquirido/estabelecido
Versace	Subsidiária totalmente de propriedade	2018
Jimmy Choo	Subsidiária totalmente de propriedade	2017
Michael Kors	Marca principal	Fundado

Fornecedores globais de manufatura

Capri Holdings trabalha com parceiros de fabricação em várias regiões:

Região	Número de fornecedores	Locais de fabricação
Ásia	87	China, Vietnã, Indonésia
Europa	23	Itália, Portugal
América do Norte	12	Estados Unidos

Parceiros de distribuição de varejo

Os principais canais de distribuição de varejo incluem:

• Lojas de departamento (Nordstrom, Macy's)
• Varejistas de luxo (Bloomingdale's, Saks Fifth Avenue)
• Lojas de departamento internacionais

Plataformas de tecnologia de comércio eletrônico

Plataformas de parceria digital:

• Farfetch
• Amazon
• Net-a-porter
• Plataformas de comércio eletrônico de propriedade da empresa

Agências de marketing e publicidade

Estatísticas de publicidade e colaboração de marketing:

Tipo de agência	Número de parceiros	Gastos anuais de marketing
Agências de publicidade globais	7	US $ 412 milhões (2023)
Agências de marketing digital	12	US $ 186 milhões (2023)

Capri Holdings Limited (CPRI) - Modelo de negócios: Atividades -chave

Design de moda de luxo e desenvolvimento de produtos

Capri Holdings Limited Designs e desenvolve coleções de moda de luxo para três marcas principais:

• Versace: 159 novos estilos lançados na coleção de outono/inverno 2023
• Michael Kors: 214 novos designs de produtos na faixa de primavera 2024
• Jimmy Choo: 87 novos designs de calçados de luxo para 2024 temporada

Marca	Tamanho da equipe de design	Investimento anual de design
Versace	52 designers	US $ 42,3 milhões
Michael Kors	78 designers	US $ 63,7 milhões
Jimmy Choo	34 designers	US $ 22,5 milhões

Gerenciamento de marcas globais

Capri Holdings gerencia a presença global da marca em vários mercados:

• Total de locais globais de varejo: 1.243 lojas
• Operacional em 67 países
• Orçamento de marketing de marca: US $ 287,6 milhões em 2023

Distribuição de varejo e atacado

Canal de distribuição	Número de pontos de venda	Contribuição da receita
Lojas de varejo	756	US $ 2,1 bilhões
Canais atacadistas	487	US $ 1,3 bilhão

Operações de marketing digital e comércio eletrônico

Métricas de engajamento digital:

• Receita de comércio eletrônico: US $ 612,4 milhões em 2023
• Seguidores de mídia social: 45,3 milhões
• Gastes de marketing digital: US $ 104,2 milhões

Cadeia de suprimentos e gerenciamento de inventário

Métrica	Valor
Valor total do inventário	US $ 879,6 milhões
Número de parceiros de fabricação	124
Taxa de rotatividade de inventário	2.7x

Capri Holdings Limited (CPRI) - Modelo de negócios: Recursos -chave

Portfólio forte de marcas de luxo

A Capri Holdings Limited possui três marcas de luxo primárias:

• Michael Kors (adquirido em 2004)
• Versace (adquirido em 2018 por US $ 2,12 bilhões)
• Jimmy Choo (adquirido em 2017 por US $ 1,2 bilhão)

Rede global de varejo e atacado

Marca	Lojas de varejo	Países operavam
Michael Kors	871	98
Versace	210	64
Jimmy Choo	155	47

Design e talento criativo

Total de funcionários (a partir de 2023): 14.300

• Equipes de design em Milão, Londres, Nova York
• Mais de 300 profissionais de design dedicados

Infraestrutura de tecnologia digital

Investimento de comércio eletrônico: US $ 85 milhões em 2023

• Plataforma de varejo Omnichannel
• Tecnologias avançadas de marketing digital
• Sistemas de personalização de clientes orientados pela IA

Capital financeiro e patrimônio da marca

Métrica financeira	2023 valor
Receita total	US $ 5,63 bilhões
Resultado líquido	US $ 541 milhões
Capitalização de mercado	US $ 7,2 bilhões

Capri Holdings Limited (CPRI) - Modelo de negócios: proposições de valor

Moda e acessórios de luxo premium

A Capri Holdings Limited gera US $ 5,649 bilhões em receita anual (ano fiscal de 2023) por meio de suas marcas de moda e acessórios de luxo. A proposta de valor da empresa centra-se na entrega de produtos de moda de ponta em vários preços e segmentos de mercado.

Marca	Contribuição da receita	Categorias de produtos
Versace	US $ 1,2 bilhão	Vestuário, acessórios, calçados
Michael Kors	US $ 3,1 bilhões	Bolsas, acessórios, relógios
Jimmy Choo	US $ 542 milhões	Calçados de luxo, acessórios

Portfólio de marcas diversas atendendo a diferentes segmentos de mercado

A Capri Holdings gerencia estrategicamente três marcas de luxo distintas direcionadas à demografia de consumidores diferentes:

• Versace: moda de luxo italiana de ponta
• Michael Kors: mercado de luxo acessível
• Jimmy Choo: calçados e acessórios de luxo

Design e habilidade de alta qualidade

O investimento em design representa aproximadamente 3-5% da receita anual, com US $ 169,47 milhões alocados ao projeto e desenvolvimento de produtos no ano fiscal de 2023.

Reconhecimento global da marca

A Capri Holdings opera em mais de 80 países com 1.276 lojas de varejo em todo o mundo. As vendas internacionais representam 57% da receita total, demonstrando forte presença global da marca.

Região	Porcentagem de receita
América do Norte	43%
Mercados internacionais	57%

Estratégia de preços de luxo acessível

Camas médias de preços do produto:

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

Margem bruta: 58,4% (ano fiscal de 2023), indicando estratégia de preços eficaz e posicionamento da marca.

Capri Holdings Limited (CPRI) - Modelo de Negócios: Relacionamentos do Cliente

Experiência personalizada do cliente digital

No terceiro trimestre de 2023, a Capri Holdings registrou vendas digitais de US $ 586 milhões, representando 26% da receita total. A empresa utiliza tecnologias avançadas de personalização em Michael Kors, Versace e Jimmy Choo Brands.

Canal digital	Métricas de engajamento	Taxa de conversão
Aplicativo móvel	2,3 milhões de usuários ativos	4.7%
Plataforma de comércio eletrônico	1,8 milhão de visitantes únicos mensalmente	3.9%

Programas de fidelidade

A Capri Holdings mantém programas de fidelidade em várias camadas em marcas com 5,6 milhões de membros ativos em todo o mundo.

• Programa de acesso de Michael Kors: 3,2 milhões de membros
• Versace VIP Club: 1,4 milhão de membros
• Jimmy Choo Rewards: 1 milhão de membros

Engajamento da mídia social

Marca	Seguidores do Instagram	Taxa de engajamento
Michael Kors	22,1 milhões	3.6%
Versace	18,5 milhões	4.2%
Jimmy Choo	6,3 milhões	2.9%

Eventos de marca exclusivos

A Capri Holdings sediou 127 eventos exclusivos de clientes em 2023, visando indivíduos de alta rede em 42 mercados globais.

Omnichannel Atendimento ao cliente

Os canais de atendimento ao cliente incluem:

• Suporte de bate -papo ao vivo 24 horas por dia, 7 dias por semana
• Suporte telefônico em 12 idiomas
• Tempo de resposta por e -mail: 4,2 horas
• Tempo de resposta das mídias sociais: 2,1 horas

Canal de serviço	Taxa de satisfação do cliente
Bate -papo ao vivo	92%
Suporte telefônico	88%
Suporte por e -mail	85%

Capri Holdings Limited (CPRI) - Modelo de Negócios: Canais

Lojas de varejo de marca

Em 2023, a Capri Holdings opera 1.271 lojas de varejo globalmente em suas três marcas de luxo: Michael Kors, Jimmy Choo e Versace.

Marca	Número de lojas	Propagação geográfica
Michael Kors	821 lojas	América do Norte, Europa, Ásia
Versace	237 lojas	Mercados globais
Jimmy Choo	213 lojas	Locais internacionais

Lojas de departamento

A Capri Holdings distribui os produtos por meio de principais redes de lojas de departamento, incluindo:

• Nordstrom
• Bloomingdale's
• Saks Quinta Avenida
• Neiman Marcus

Plataformas online de comércio eletrônico

Os canais de vendas digitais incluem:

• Sites específicos da marca
• Plataformas de comércio eletrônico de luxo
• Varejistas on-line de terceiros

Canal de comércio eletrônico	Porcentagem de vendas totais
Sites de marca	12.4%
Varejistas on-line de terceiros	7.6%

Distribuidores por atacado

A receita de atacado para o ano fiscal de 2023 foi de US $ 1,8 bilhão, representando 29% da receita total da empresa.

Canais de marketing digital

• Instagram: 24,5 milhões de seguidores
• Facebook: 16,3 milhões de seguidores
• Tiktok: 8,7 milhões de seguidores

Plataforma de marketing digital	Taxa de engajamento
Instagram	3.2%
Tiktok	5.7%

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

Millennials afluentes e Gen Z

De acordo com o relatório anual de 2023 da Capri Holdings, este segmento representa 42% dos consumidores de moda de luxo em todo o mundo. Gastos médios per capita: US $ 3.750 anualmente em marcas de luxo.

Faixa etária	Porcentagem do mercado -alvo	Gasto médio anual
18-34 anos	42%	$3,750

Consumidores urbanos profissionais

Renda mediana para segmento profissional -alvo: US $ 125.000 anualmente. Concentrado nas principais áreas metropolitanas com alta penetração da marca de luxo.

• Cidades primárias: Nova York, Londres, Xangai, Tóquio
• Alocação média de marca de luxo: 6-8% da renda anual

Compradores de luxo conscientes da moda

Tamanho global do mercado de moda de luxo: US $ 392,4 bilhões em 2023. A Capri Holdings tem como alvo os 15% dos consumidores conscientes da moda.

Segmento de mercado	Valor de mercado	Capri Holdings Alvo Porcentagem
Moda de luxo	US $ 392,4 bilhões	15%

Mercados Internacionais Globais

Repartição da receita internacional para a Capri Holdings em 2023:

• América do Norte: 62% da receita total
• Europa: 22% da receita total
• Ásia -Pacífico: 14% da receita total
• Outras regiões: 2% da receita total

Diferentes dados demográficos de idade e renda

Segmentação detalhada do cliente por idade e níveis de renda:

Faixa etária	Faixa de renda	Porcentagem do mercado -alvo
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 negócios: estrutura de custos

Design e desenvolvimento de produtos

Despesas anuais de design e desenvolvimento de produtos para o ano fiscal de 2023: US $ 185,4 milhões

Categoria de design	Alocação de despesas
Michael Kors Design	US $ 62,3 milhões
Design Versace	US $ 53,7 milhões
Jimmy Choo Design	US $ 41,5 milhões

Fabricação e fornecimento

Custos totais de fabricação e fornecimento para o ano fiscal de 2023: US $ 1,24 bilhão

• Locais de fabricação: Itália, China, Vietnã, Romênia
• Porcentagem de fabricação terceirizada: 87%
• Custo médio por unidade de produto: US $ 87,50

Marketing global e publicidade

Despesas totais de marketing e publicidade para o ano fiscal de 2023: US $ 412,6 milhões

Canal de marketing	Gastos
Marketing digital	US $ 186,7 milhões
Mídia tradicional	US $ 112,3 milhões
Parcerias de influenciadores	US $ 73,9 milhões

Operações de lojas de varejo

Despesas operacionais totais de lojas de varejo para o ano fiscal de 2023: US $ 743,2 milhões

• Número de lojas globais de varejo: 1.243
• Custo operacional médio da loja: US $ 597.420 por loja anualmente
• Despesas de aluguel e arrendamento: US $ 328,5 milhões

Infraestrutura de tecnologia digital

Investimento total de tecnologia digital para o ano fiscal de 2023: US $ 95,6 milhões

Área de investimento em tecnologia	Gasto
Plataforma de comércio eletrônico	US $ 42,3 milhões
Segurança cibernética	US $ 23,7 milhões
Análise de dados	US $ 18,9 milhões

Capri Holdings Limited (CPRI) - Modelo de negócios: fluxos de receita

Vendas de lojas de varejo

Para o ano fiscal de 2023, a Capri Holdings Limited registrou vendas totais de varejo de US $ 5,61 bilhões. A empresa opera lojas de varejo em várias marcas, incluindo Michael Kors, Jimmy Choo e Versace.

Marca	Número de lojas de varejo	Vendas de varejo (2023)
Michael Kors	1,082	US $ 3,2 bilhões
Versace	235	US $ 1,1 bilhão
Jimmy Choo	166	US $ 573 milhões

Receita de comércio eletrônico online

As vendas digitais da Capri Holdings no ano fiscal de 2023 atingiram US $ 1,43 bilhão, representando 25,5% da receita total.

• Taxa de crescimento do comércio eletrônico: 12,3% ano a ano
• Os canais de vendas digitais incluem sites específicos da marca e varejistas on-line de terceiros
• O comércio móvel representa 68% das vendas on -line

Distribuição por atacado

A receita atacadista para a Capri Holdings no ano fiscal de 2023 foi de US $ 1,87 bilhão, distribuída em vários mercados globais.

Região	Receita no atacado	Porcentagem do total de atacado
América do Norte	US $ 1,12 bilhão	60%
Europa	US $ 450 milhões	24%
Ásia -Pacífico	US $ 308 milhões	16%

Acordos de licenciamento

A receita de licenciamento da Capri Holdings no ano fiscal de 2023 totalizou US $ 92 milhões.

• Parcerias de licenciamento ativo: 17
• Categorias de produtos: óculos, fragrâncias, acessórios
• Duração média do contrato de licenciamento: 5 anos

Expansão do mercado internacional

As vendas internacionais para a Capri Holdings no ano fiscal de 2023 totalizaram US $ 2,64 bilhões, representando 47% da receita total.

Região	Vendas internacionais	Taxa de crescimento
Europa	US $ 1,2 bilhão	8.5%
Ásia -Pacífico	US $ 980 milhões	11.2%
Resto do mundo	US $ 460 milhões	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.