On May 31st, a reporter from Beijing News and Shell Finance learned that Capri Holdings Limited, a luxury goods group in the United States, announced its 2024 fiscal year results as of March 30th. During the reporting period, Capri Group's revenue fell by 8% to $5.17 billion; The net loss was 229 million US dollars, and the net income from the previous year was 616 million US dollars.
From a brand perspective, in the fiscal year 2024, Versace's revenue decreased by $76 million to $1.03 billion compared to the previous year, a year-on-year decrease of 6.9%. This was mainly due to a decrease in revenue in the Americas, Europe, Middle East, and Africa markets, partially offset by an increase in revenue in the Asian market; The revenue of shoe brand Jimmy Choo decreased by 2.4% year-on-year to $618 million; Michael Kors' revenue decreased by $358 million to $3.522 billion, a year-on-year decrease of 9.2%, mainly due to a decrease in revenue in the Americas market.
In addition, during the reporting period, Capri Group's sales, general, and administrative expenses reached $2.784 billion, an increase of 2.8%, accounting for 53.8% of total revenue compared to 48.2% in the previous year. The main reasons were an increase in retail store costs, marketing investments, undistributed company expenses, and deleveraging of operating expenses due to a decrease in revenue in the fiscal year 2024.