Capri Holdings, the American luxury company known for its ownership of iconic brands such as Michael Kors, Versace, and Jimmy Choo, has set an ambitious revenue target of $8 billion for the future. This represents a remarkable 40% increase compared to its performance in fiscal 2022. The company unveiled its sales forecast for fiscal 2023 during an investor presentation, projecting total sales of $5.85 billion and earnings of $6.85 per share.
To shed light on its revenue breakdown, Capri Holdings expects Michael Kors to be the main contributor, accounting for 69% of total revenues. Versace is projected to contribute 20%, while Jimmy Choo is expected to make up 11% of revenues. In terms of geographical distribution, the Americas will continue to be Capri’s largest market, responsible for 69% of sales in 2023. The EMEA region will follow with 25%, and Asia will represent 11% of sales.
Regarding distribution channels, Capri predicts that 69% of its revenue will come from its retail channel, with wholesale contributing 27% and licensing making up 4%. To support its growth plans, the company intends to invest approximately $300 million annually across various aspects of its business and portfolio. A significant portion of this investment will be allocated to expanding and renovating its global store network. Capri plans to open 42 additional stores worldwide this year, including 20 new Michael Kors stores, six Jimmy Choo stores, and 16 Versace stores. Furthermore, the company will prioritize investments in digital technology and European manufacturing.
Capri’s investor day comes after a successful fiscal 2022, during which it generated $5.65 billion in revenues in the 12-month period ending on April 2, 2022. With its ambitious revenue target and strategic investments, Capri Holdings aims to continue its upward trajectory and solidify its position in the competitive luxury market.
For more information on Capri Holdings and its brands:
– [Visit Capri Holdings’ official website](https://www.capriholdings.com/){target=”_blank”}
– [Learn more about Michael Kors, Versace, and Jimmy Choo](https://www.capriholdings.com/brands/){target=”_blank”}
