Inside Capri Holdings: Jimmy Choo Rises as Michael Kors Steadies
Inside Capri Holdings: Jimmy Choo Rises as Michael Kors Steadies
Capri Holdings is a two-brand group now, and the split is telling. Jimmy Choo is quietly becoming the company's most compelling story, posting 5% revenue growth
Capri Holdings is a two-brand group now, and the split is telling. Jimmy Choo is quietly becoming the company's most compelling story, posting 5% revenue growth and flipping from a loss to a $3 million operating profit in Q3 FY2026.
Michael Kors, still the group's biggest earner at $858 million in quarterly revenue, continues to lose ground, down 5.6% year-on-year as it works through a prolonged correction from years of over-distribution. It signals a divergence: one brand gaining momentum, one resetting, and a
balance sheet that just got a lot cleaner after the $1.375 billion Versace sale to Prada. Brand Q3 Revenue YoY Change Operating Margin Michael Kors $858M -5.6% 13.9% Jimmy Choo $167M +5.0% 1.8% Total (Group) $1.025B -4.0% 4.5% reported / 7.7% adj.
Jimmy Choo: The Bright Spot Jimmy Choo delivered 5% revenue growth on a reported basis, reaching $167 million. Core accessories and improving retail momentum were the drivers.
More telling: the brand flipped from a $6 million operating loss a year ago to a $3 million operating profit — a swing that signals strategic traction, not just a good quarter. Gross margin also expanded, coming in at 66.5% versus 66% in the prior year.
The brand has been quietly repositioning around elevated accessories and a tighter product story. It is a smaller business than Michael Kors, but it is moving in the right direction and closing in on sustainable profitability…
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