By Daniella Parra
Global fashion luxury group Capri Holdings Limited (NYSE:CPRI) said it had record revenue at Versace and Jimmy Choo in fiscal 2023.
The results drove high-single-digit revenue growth and returned $1.35 billion to shareholders, the company said.
Fourth quarter revenue decreased 10.5% on a reported basis and 3.0% on a 52-week constant currency basis. The adjusted gross margin expanded 90 basis points versus prior year, it said.
“We achieved several milestones in fiscal 2023, including record revenue at Versace and Jimmy Choo as well as mid-single-digit revenue growth at Michael Kors,” said CEO John D. Idol, “These results demonstrate the power of our business model, the strength of our luxury houses and the execution of our strategic initiatives.”