Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today provided an update on the coordinated actions the company is taking to protect our employees and maintain the company’s financial position in response to the continued global health and economic impact of the COVID-19 pandemic. Can New Leadership Save Victoria’s Secret? This press release features multimedia. Consider This. These amounts are not in accordance with, or an alternative to, GAAP. Further, by entering the External Site, you also acknowledge and agree that you completely and irrevocably forever waive, and release Capri from, any and all rights and claims against Capri and Virtua and further acknowledge and agree that in no event shall Capri or Virtua, its officers, employees, directors and agents be liable for any (i) direct or indirect, consequential, incidental, special, compensatory, punitive or other damages, (ii) damages for loss of income, loss of business profits, business interruption, loss of data or business information, loss of or damage to property, (iii) claims of third parties, or (iv) other pecuniary loss, arising out of or related to this disclaimer or the External Site or any linked websites. Photo: Odin Jaeger/Bloomberg News By Micah Maidenberg. listed on the New York Stock Exchange under the ticker CPRI. By entering the External Site, you further acknowledge and agree that the disclaimer of warranties and limitations of liability set out in this disclaimer shall apply regardless of the causes, circumstances or form of action giving rise to the loss, damage, claim or liability, even if such loss, damage, claim or liability is based upon breach of contract (including, without limitation, a claim of fundamental breach or breach of a fundamental term), tort (including, without limitation, negligence), strict liability or any other legal or equitable theory, and even if Capri and Virtua are advised of the possibility of the loss, damage, claim or liability. Please note that you are now entering a website directly or indirectly maintained by a third party (the "External Site") and that you do so at your own risk. If in any jurisdiction, any part of this disclaimer is determined to be unenforceable by a court of competent jurisdiction, such part of this disclaimer shall be restricted or eliminated to the minimum extent necessary to comply with such determination and the remaining disclaimer shall otherwise remain in full force and effect. Versace’s New Owner Plans to Build America’s Answer to LVMH. Capri, which also owns Jimmy Choo and Versace, said revenue in the quarter declined 23% to $1.11 billion, which was well ahead of estimates at … One way to battle the conglomerates — which box out competitors from prime space at multi-brand retailers, deals with manufacturers and leases in top real estate — is to become a more vertically integrated business. The company is trying to bring the brand further upmarket, which is challenging to do given its masstige status. By clicking "Accept" below you acknowledge and agree that neither Capri nor the third party provider of the External Site, Virtua Research, Inc. ("Virtua"), is responsible, or accepts or assumes any responsibility or liability whatsoever for, the content, the data contained in or accessible on or through, or the technical operation of the External Site. All rights reserved. Gap Falls Amid Weakness at Namesake Brand, US Consumer Spending Rose in October While Incomes Declined, Tiffany Beats Profit Expectations as China Demand Soars, Snapchat Launches TikTok, Instagram Reels Competitor, Careers Counsel | Working Parents and the Pandemic, Zappos Founder Tony Hsieh Dies Following House Fire Injuries. The deal marks the first factory acquisition for the newly formed Capri group, which is likely seeking to own more of its supply chain as a way to be competitive in an increasingly consolidated luxury goods market dominated by French groups LVMH and Kering. It Has a Long Way to Go. All of Capri’s brands are underpenetrated, both in e-commerce and in China, the most important market for luxury, and where Versace has seen comparable sales decrease.

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