Capri Holdings aim to reach 8 billion dollars by making fewer bags and more shoes

Fewer accessories, more footwear and apparel, while enhancing, at the same time, Men’s collections and commercial penetration into Asia’s market: such is the plan, set by Capri Holdings, to reach 8 billion dollars, in terms of turnover, as soon as possible. While commenting on the group’s latest business performances, during a conference call with financial analysts, John Idol, chief executive officer of the group, which controls Michael Kors, Versace and Jimmy Choo, pointed out: “Women’s apparel, along with men’s footwear and business, start enjoying a remarkable boost. We want to remove pressure from everything around women’s accessories. We reckon it is going to take longer, yet it is going to be healthier”. In particular, as emphasized by Fashion Network, prêt-à-porter and footwear (in the Fashion Active category, most of all) have been driving Versace sales since the group bought out the brand. Chain Reaction (sneakers) basic line, to which they subsequently added some new products and capsule collections, still proves to be the best-selling model. Versace also launched a new bag product line: the Virtus collection, whose trend turned out to be positive too. Jimmy Choo brand, which looks on fire, “is now ready to boost accessory expansion”, remarked Idol. Talking about Michael Kors flat sales, Men’s collection of accessories “keeps improving considerably its performance, mostly driven by the Grayson product line, in pebbled leather. Backpacks were the best-selling item”. Considering such accomplishments, the group is planning to enhance Michael Kors and Versace footwear product line, as much as the men’s division of the three brands. In contrast, as reported by Modaes.es, John Idol also cleared up that “Asia is our top priority: here we expect to redouble our business activity in the next few years”.

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