A Look at Capri Holdings’ Strategic Missteps with Versace and Michael Kors

Capri Holdings, the parent company of Versace and Michael Kors, faced a nearly 12% drop in quarterly revenue, along with a $600 million write-down for Versace and Jimmy Choo. The company’s attempts to reposition Versace with high-end craftsmanship alienated broader customer segments, leading to a 15% revenue decline for the brand. Michael Kors also experienced backlash from its core customers due to an overemphasis on trendy fashion items and significant price hikes. Both brands are now adjusting their strategies to better align with consumer expectations and market demands.

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