Capri Holdings
A global luxury fashion group whose portfolio has included Michael Kors, Jimmy Choo, and Versace.
Last updated August 31, 2026
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Overview
Capri Holdings is a multinational fashion holding company associated with luxury and accessible-luxury clothing, handbags, footwear, watches, and other accessories. The group traces its origins to 1981, when American designer Michael Kors introduced his eponymous womenswear label at Bergdorf Goodman in New York. The corporate platform later developed into Michael Kors Holdings Limited, supported by fashion investors Lawrence Stroll and Silas Chou and led operationally by John D. Idol. It became a public company on the New York Stock Exchange in 2011. The business expanded beyond the Michael Kors label through acquisitions. In 2017, Michael Kors Holdings acquired British luxury footwear and accessories house Jimmy Choo for approximately £897 million. In 2018, it announced an agreement to acquire Italian fashion house Versace for a reported enterprise value of approximately $2.1 billion. The transaction closed in early 2019, after which the holding company adopted the Capri Holdings name. The portfolio consequently combined the Michael Kors, Jimmy Choo, and Versace brands, giving the group exposure to different positions within the global luxury market. Capri's business spans ready-to-wear apparel, handbags, shoes, watches, jewelry, fragrances, and related accessories. Michael Kors is the group's largest and most broadly distributed brand, with products ranging from runway-inspired luxury goods to more accessible fashion collections. Jimmy Choo is known primarily for luxury footwear and accessories, while Versace occupies a highly recognizable Italian luxury position centered on apparel, accessories, footwear, and distinctive brand iconography. The group has operated through directly managed stores, outlet locations, licensed stores, wholesale relationships, digital commerce, and in-store boutiques. The company's history includes both expansion and retrenchment. Michael Kors Holdings grew rapidly in the 2010s and reported more than 550 stores and over 1,500 in-store boutiques in various countries in 2015. By April 2017, it reported 827 full-price or outlet stores and 133 licensed stores. At the same time, the company sought to manage brand distribution, strengthen direct retail, and maintain the desirability of its products in a competitive handbag and accessories market. Since 2017, it has stated that its products would no longer use animal fur. Capri later became the subject of a proposed acquisition by Tapestry, the owner of Coach and Kate Spade. Announced in 2023 at a value of $8.5 billion, the transaction was challenged by the U.S. Federal Trade Commission on competition grounds. A federal judge blocked the deal in October 2024, and the parties abandoned it the following month. Capri subsequently sold Versace to Prada for €1.25 billion, with the transaction finalized on April 10, 2025. Following that sale, Capri's remaining principal brands are Michael Kors and Jimmy Choo. The group reported a $1.18 billion loss in fiscal 2025 as revenue declined from approximately $5.6 billion to $4.4 billion.
History
Capri Holdings developed from the business built around designer Michael Kors. Kors studied briefly at the Fashion Institute of Technology before working at the Manhattan boutique Lothar's, located near Bergdorf Goodman. His work there attracted the attention of Bergdorf Goodman's fashion director Dawn Mello, who invited him to present his collection to the store's buyers. In 1981, Kors launched his womenswear label at Bergdorf Goodman. The company expanded its offering through licensing and additional product lines. A KORS Michael Kors line began in 1990 under a licensing arrangement. In 1993, the business entered Chapter 11 bankruptcy protection after the closure of the partner responsible for that license. The KORS line was paused, while Kors worked with other labels. It returned in 1997 in a lower-priced form, broadening the brand's reach. That same year, Kors became the first women's ready-to-wear designer for the French fashion house Celine, a role he left in 2003 to focus on his own business. Kors introduced menswear in 2002. In 2003, the brand was relaunched through Michael Kors Holdings Limited with a majority investment of approximately $100 million from Lawrence Stroll and Silas Chou. John D. Idol subsequently became chief executive officer. The MICHAEL Michael Kors line debuted in 2004, covering women's handbags, footwear, and ready-to-wear apparel and helping the group reach a wider consumer segment. Michael Kors Holdings went public on the New York Stock Exchange in 2011. The initial public offering made Stroll, Chou, and Michael Kors billionaires according to contemporary accounts. The company expanded its retail and licensing footprint during the following years. By 2014, it reported annual revenue of approximately $3.2 billion and net income of approximately $670 million. In 2015, it had more than 550 stores and more than 1,500 in-store boutiques in different countries. By April 2017, it reported 827 full-price or outlet stores and 133 licensed stores. The group shifted from a single-brand structure toward a multi-brand luxury house through acquisitions. In July 2017, it bought Jimmy Choo Limited for approximately £897 million. In September 2018, it announced the acquisition of Versace, an Italian fashion group valued at approximately $2.1 billion. The transaction closed on January 2, 2019, and the parent company was renamed Capri Holdings. Management described opportunities to expand Versace's retail presence, including a plan to increase its global store base from roughly 200 locations to approximately 300. Capri's operations have included apparel, shoes, handbags, watches, and other accessories sold through company-operated stores, outlets, licensed stores, wholesale channels, boutiques, and online commerce. Its brands have occupied differentiated positions: Michael Kors has combined designer fashion with a broad accessible-luxury distribution model; Jimmy Choo has emphasized luxury footwear and accessories; and Versace has represented a high-visibility Italian luxury identity. Capri also stated that it would stop using animal fur in its products from 2017 onward. In 2023, Tapestry agreed to acquire Capri for $8.5 billion. The proposed transaction would have brought together Tapestry's Coach and Kate Spade brands with Capri's Michael Kors, Jimmy Choo, and Versace. In April 2024, the Federal Trade Commission sued to block the transaction, raising concerns about reduced competition in the affordable-luxury handbag market and possible effects on employees' wages and hiring. A federal judge blocked the acquisition on October 24, 2024. Although the companies initially committed to appealing, they abandoned the transaction the following month. Capri later reorganized its portfolio through the sale of Versace to Prada. The sale was completed on April 10, 2025, for €1.25 billion. Capri therefore ceased to own Versace while retaining Michael Kors and Jimmy Choo. The company reported a $1.18 billion loss in fiscal 2025, with revenue declining from approximately $5.6 billion to $4.4 billion. These developments marked a transition from an aggressively expanding three-brand luxury group to a smaller, more concentrated fashion company.
- 2025
Versace sold to Prada
[1]Capri completed the sale of Versace to Prada for €1.25 billion.
- 2024
Federal court blocks Tapestry transaction
[1]A federal judge blocked the proposed acquisition after the FTC challenged it on competition grounds; the parties later terminated the deal.
- 2023
Tapestry agrees to acquire Capri
[1]Tapestry announced a proposed $8.5 billion acquisition of Capri Holdings.
- 2019
Company adopts Capri Holdings name
[1]After the Versace transaction closed, Michael Kors Holdings Limited was renamed Capri Holdings.
- 2018
Versace acquisition announced
[1]The company announced an agreement to acquire Versace in a transaction valuing the Italian fashion group at approximately $2.1 billion.
- 2017
Jimmy Choo acquisition
[1]Michael Kors Holdings acquired Jimmy Choo Limited for approximately £897 million.
- 2015
Counterfeit enforcement actions in Montreal
[1]The Michael Kors brand pursued trademark enforcement against a network connected with counterfeit bags, wallets, and other goods in the Montreal area.
- 2011
Michael Kors Holdings goes public
[1]Michael Kors Holdings Limited completed an initial public offering on the New York Stock Exchange.
- 2004
MICHAEL Michael Kors launches
[1]The MICHAEL Michael Kors line launched with handbags, shoes, and women's ready-to-wear apparel.
- 2003
Michael Kors business receives major investment
[1]Lawrence Stroll and Silas Chou backed the relaunch of the business through Michael Kors Holdings Limited with an investment reported at approximately $100 million.
Products and positioning
Multi-brand luxury and accessible-luxury fashion group
Luxury and accessible-luxury fashion · 1981
Michael Kors
Michael Kors is Capri's eponymous American fashion brand and the original foundation of the group. Its assortment has included women's and men's ready-to-wear apparel, handbags, footwear, watches, jewelry, fragrances, and small leather goods. The brand operates across multiple price and distribution tiers, including runway-oriented collections, the MICHAEL Michael Kors line, full-price stores, outlets, licensed locations, wholesale accounts, and digital commerce.
Luxury footwear and accessories
Jimmy Choo
Jimmy Choo is a British luxury fashion brand best known for high-end women's footwear, including formal and occasion shoes. Its broader assortment includes handbags, accessories, fragrances, and selected ready-to-wear products. Capri acquired the company in 2017, adding a footwear-led luxury label with a distinct international retail and wholesale presence to its portfolio.
Italian luxury fashion
Versace
Versace was an Italian luxury fashion house associated with ready-to-wear apparel, footwear, handbags, accessories, fragrances, and highly recognizable visual codes. Capri acquired Versace in a transaction announced in 2018 and completed in 2019. Capri sold the brand to Prada in 2025, so Versace is no longer part of Capri Holdings.
Marketing campaigns
- 2017Fur-free product policy
Global
Michael Kors stated that it would no longer use animal fur in products, positioning the policy as part of the brand's product and responsibility practices.
Outcome. The policy became part of the group's publicly described operating approach.
Brand decisions
2025
Sell Versace to PradaM&ABackground
Following the unsuccessful Tapestry transaction, Capri proceeded with a portfolio-reduction transaction involving Versace.
Action taken
Capri completed the sale of Versace to Prada on April 10, 2025.
Aftermath
Capri retained Michael Kors and Jimmy Choo as its principal brands.
Sale price. €1.25 billion (2025)
2023
Agree to Tapestry acquisitionM&ABackground
Tapestry proposed combining its Coach and Kate Spade businesses with Capri's Michael Kors, Jimmy Choo, and Versace brands.
Action taken
Capri agreed to be acquired by Tapestry for $8.5 billion.
Aftermath
The FTC challenged the transaction, a federal judge blocked it in October 2024, and the parties abandoned the deal in November 2024.
Proposed acquisition value. $8.5 billion (2023)
2018
Acquire VersaceM&ABackground
The company pursued a second major luxury-brand acquisition to strengthen its international portfolio and retail presence.
Action taken
Michael Kors Holdings agreed to acquire Versace; the transaction closed on January 2, 2019.
Aftermath
The holding company changed its name to Capri Holdings and planned to expand Versace's global retail footprint.
Reported valuation of Versace transaction. Approximately $2.1 billion (2018)
2017
Acquire Jimmy ChooM&ABackground
Michael Kors Holdings sought to broaden its single-brand business into a multi-brand luxury group.
Action taken
The company acquired Jimmy Choo Limited for approximately £897 million.
Aftermath
Jimmy Choo became one of the group's principal luxury brands.
Acquisition price. Approximately £897 million (2017)
Recent events
Reported
Versace announces interim CEO appointment[3]
Capri Holdings announced Cedric Wilmotte's appointment as Versace's interim chief executive officer. The release states that the appointment is effective January 17, 2021, and that he will serve through December 31, 2022.
Reported
Capri Holdings appoints Alejandro Martinez-Galindo as CIO[4]
Capri Holdings announced the appointment of Alejandro Martinez-Galindo as its Chief Information Officer. His stated start date was March 8, 2021.
Sources4 sources
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