Top luxury groups are taking concrete steps to promote ethical fashion, especially in the areas of diversity, inclusivity, environmental and social responsibility, as shown by recent projects by Capri, Prada and Kering.
Capri beat holiday-quarter profit estimates on Wednesday as the luxury fashion house boosted its margins by selling more products at full price and cutting manufacturing costs, sending its shares up nearly 7%.
Total revenue and profits may have slumped at Capri holdings in the latest quarter, but the owner of Michael Kors, Versace and Jimmy Choo was upbeat as Chinese demand recovered strongly and e-tail soared.
Capri Holdings has named a new CEO for Jimmy Choo. Hannah Colman, who has been interim CEO, takes over permanently at the helm of the luxury footwear label and will report to Capri’s CEO and chairman John D. Idol.