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Agenda-setting intelligence, analysis and advice for the global fashion community.

Where Does Michael Kors Go From Here?

Without Tapestry, Capri Holdings has a tough road ahead to return its biggest brand to growth.
Michael Kors handbag.
Michael Kors posted $3.5 billion in its most recent fiscal year — down $1 billion, or 22 percent, from its revenue in 2019. (Shutterstock)

Capri Holdings CEO John D. Idol has a plan to turn around Michael Kors: Sell bags that shoppers want, at prices they’re willing to pay.

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Further Reading

Tapestry and Capri Call Off Their Merger

The $8.5 billion deal is off after the US Federal Trade Commission successfully blocked it in court. In announcing the termination, the Coach-owner said it would buy back stock, while Capri outlined a turnaround plan that includes closing some Michael Kors stores.

What’s Really Going On at Capri

Joshua Schulman’s surprise exit from the Michael Kors and Versace owner puts pressure on John Idol in his quest to build an LVMH competitor.

About the author
Cathaleen Chen
Cathaleen Chen

Cathaleen Chen is Retail Editor at The Business of Fashion. She is based in New York and drives BoF’s coverage of the retail and direct-to-consumer sectors.

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