The pandemic may be a long way from being over, but they are parading down the catwalks in New York this week. Uber sunny in mood and attitude, designers appear to be longing for a return to a new normalcy.
Capri Holdings had big news on Tuesday as it announced a new CEO — Joshua Schulman — for Michael Kors. But more importantly, he'll take over as group CEO from John D Idol next year. Idol will become executive chairman.
Michael Kors parent Capri Holdings raised its fiscal 2022 forecast for profit and revenue on Tuesday, betting on a surge in demand for luxury products as consumers emerging from lockdowns look to upgrade their wardrobes.
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.
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.